The number of homes for sale in England with a seven-figure asking price has doubled in just six years, according to new analysis.
Around one in every 20 homes put on the market are now priced at £1m or higher – compared with just under 3 per cent in 2019, new figures from Rightmove suggest.
Cornwall has seen the biggest surge in the number of such properties for sale since 2019, with many seaside locations having experienced a “race for space” among buyers during the Covid pandemic, according to the property website.
But London still has the biggest concentration of million-pound homes for sale, with Westminster, Kensington and Chelsea and Wandsworth topping the list.
And in London commuter belt locations such as St Albans, Windsor and Maidenhead, Three Rivers, and Waverley, around one in every five homes for sale now have a million-pound asking price, according to Rightmove.
Describing the surge in million-pound homes for sale across the UK as “substantial”, Colleen Babcock, a property expert at Rightmove, said: “This isn’t just happening in London; places like Cornwall, Uttlesford, and Somerset are also seeing big jumps in the number of high-value properties.
“Mole Valley is a standout, with 22 per cent of its homes for sale now in the million-pound bracket.”
Local areas included in Rightmove’s research were those with at least 10 or more homes for sale during the time periods analysed.
Here are the areas with the biggest increase in the volume of million-pound properties for sale, according to Rightmove, comparing January to April 2025 with the same period in 2019:
It comes after data from property website Zoopla suggested that UK house prices have leapt by an average of 74 per cent since 2005, adding more than £150,000 to the average property value.
That means the average property price has risen from £113,900 to £268,200 over the past 20 years.
The largest property price increases have been in London, with the cost of homes in the capital more than doubling since 2005 to hit an average of £534,000, according to Zoopla. In south-east England, property values have also risen by 87 per cent and now average £385,400.
By contrast, house prices in the North East have risen by 39 per cent during the same period, averaging £146,400. Scotland and Wales both saw similar levels of price increases – of 63 and 64 per cent, respectively – bringing average property prices to £168,000 north of the border, and to £206,500 in Wales.
Here are the areas in England with the biggest concentrations of million-pound homes, according to Rightmove:
1. Westminster, London
2. Kensington and Chelsea, London
3. Wandsworth, London
4. Buckinghamshire, South East
5. Camden, London
6. Hammersmith and Fulham, London
7. Barnet, London
8. Richmond upon Thames, London
9. Elmbridge, South East
10. Lambeth, London
