The data excludes London (the capital has actually seen a decrease in its number of seven-figure homes, though is still home to the most so-called 'property millionaires'), and shows that the number of property millionaires across the country has fallen by approximately 35,000 over the last year.
According to the insights from Zoopla, a total of 733,777 homeowners are in possession of a property worth £1 million or more. That's a dip from 768,553 in 2019.
Whilst the South East of England saw a decline in the number of seven-figure properties (though it still sits in second-place behind London, with 171,454 properties worth £1m+), regions such as the East of England and West Midlands have seen significant growth.
The data also shows that properties worth £1 million or more account for 2.5% of the market. Guildford is the town home to the most seven-figure properties, with a total of 5,615 worth £1 million or more; Cambridge follows closely behind with a total of 5,246, whilst Sevenoaks is third with 5,188.
St Albans (4,889), Edinburgh (4,818), Oxford (4,791), Bristol (4,764), Reading (4,642), Twickenham (4,505) and Leatherhead (4,140) make up the remainder of the top 10 - despite not making the cut, Cobham in Surrey has the highest proportion of £1m+ properties, with 44.3% of its homes worth one million or more. For anyone who isn't quite a million-pound property owner just yet, Zoopla has created a handy calculator to help you work out when, exactly, you can expect your home to hit the seven-figure mark. Try it here!
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