A new analysis from Rightmove has revealed a remarkable shift in the UK’s housing market: the number of homes listed for £1 million or more has more than doubled since 2019. That’s a whopping 103% increase in just six years—clearly, the million-pound property club is no longer reserved for the usual London postcodes.
A Million Here, A Million There…
Back in 2019, just under 3% of properties for sale in Great Britain carried a seven-figure price tag. Fast forward to early 2025, and that figure now stands at just over 5%. That’s more than one in twenty homes.
This rise isn’t just concentrated in the capital. While London still leads the charge in sheer numbers—Westminster, Kensington & Chelsea, and Wandsworth top the list—regions across the country are seeing significant growth in million-pound listings.
Where the Biggest Jumps Are Happening
If you’re thinking about where the high-end property market is heating up the fastest, look to the South West. Cornwall leads the nation with a 246% increase in million-pound homes for sale since 2019. That’s followed by Uttlesford in the East of England (+233%) and Somerset (+226%).
Other fast-rising hotspots include:
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North Yorkshire (+210%)
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Wealden, South East (+201%)
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Wiltshire (+193%)
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Chelmsford and Test Valley (both +188%)
Clearly, the pandemic-era shift towards more space and lifestyle-driven relocations is continuing to ripple through regional markets.
Mole Valley: The New Millionaire’s Market
One of the most striking stories comes from Mole Valley in the South East. Back in 2019, just 10% of homes listed for sale there were priced at £1 million or more. Today, that number has more than doubled to 22%, making it one of the fastest-transforming high-value markets in the country.
Mole Valley isn’t alone. Waverley (22%), Windsor and Maidenhead (23%), and St Albans (18%) have also seen major jumps in the proportion of luxury listings.
Richmond Joins the Million Club
For the first time ever, the average asking price in the London Borough of Richmond has crossed the million-pound threshold, now sitting at £1,006,981. That makes Richmond the latest addition to an exclusive group of areas where the typical home fetches seven figures.
In fact, the number of locations outside of London with an average price of £1 million or more has more than doubled since 2019—from 30 areas to 66. That’s a significant sign that Britain’s luxury property market is expanding well beyond traditional boundaries.
The Expert View
Colleen Babcock, property expert at Rightmove, sums it up:
“The surge in million-pound homes for sale across Great Britain is substantial. Since 2019, we’ve seen the number of million-pound homes for sale double, with over 5% of the market now priced at a million pounds or more. 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.”
Top 10 Areas with the Most Million-Pound Listings
Unsurprisingly, London dominates the top spots, but the South East is also breaking through:
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Westminster (London)
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Kensington and Chelsea (London)
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Wandsworth (London)
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Buckinghamshire (South East)
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Camden (London)
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Hammersmith and Fulham (London)
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Barnet (London)
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Richmond upon Thames (London)
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Elmbridge (South East)
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Lambeth (London)
Final Thoughts
From coastal Cornwall to leafy Mole Valley, the high-end property market in Great Britain is evolving fast. As more regions breach the million-pound mark, the definition of a “prime location” is broadening—bringing new opportunities (and challenges) for buyers, sellers, and investors alike.