Surge in the number of homes in Britain valued at £1 million-plus

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Sign up to our free Morning Headlines email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Outside of London, the number of million-pound properties actually experienced a slight decline of 1% last year, highlighting a significant regional disparity in the property market’s performance. open image in gallery UK properties valued at £1 million-plus in 2024 In percentage terms, the North East of England saw the biggest rise in property millionaires outside of London, although this market still holds the smallest overall market share, the report said. The number of million-pound properties last year Here are the number of million-pound properties last year, according to Savills, followed by the annual increase or decrease : London, 349,068, 5,202 South East, 159,973, minus 1,902 East of England, 64,339, minus 1,320 South West, 46,324, minus 1,527 West Midlands, 22,065, 918 North West, 20,764, 834 Yorkshire and the Humber, 12,200, 522 Scotland, 11,330, 11 East Midlands, 9,286, 348 Wales, 4,485, minus 100 North East, 2,746, 142 Peter Daborn, director and head of residential sales at Savills in the West Midlands, said: “We see many buyers still taking advantage of flexible working and the appeal of living in the countryside is still a big draw, with London commutable in little over an hour from the likes of Stafford station. “When coupled with the relative affordability in counties like Shropshire and Staffordshire, a new balance is struck, meaning families can still have the complete package of the home, lifestyle, and education they want, without increased financial burden.” The South East, East of England, the South West and Wales all saw a decline in their £1 million-plus stock, according to the research, which involved looking at the distribution of housing stock by price band and applying price movements from Savills’ prime regional index.