Number of million-pound homes for sale doubles since 2019 – which UK areas have seen biggest increase?

The number of homes for sale priced at £1 million or more has doubled across Britain over the past six years.

The volume of properties with a price tag of £1,000,000 or more has soared by 103% since pre-pandemic levels in 2019, analysis by Rightmove shows.

The rise in expensive house prices can be seen across the country from Cornwall and Somerset, through the capital and up to Yorkshire.

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It means that just over 5% of homes for sale are now priced at over £1 million, versus just under 3% in 2019.

Some homes will boast large numbers of bedrooms, extensive gardens and grounds, and maybe an outdoor swimming pool. Others may be in a desirable location, such as in London or by the coast.

The boom in homes with a seven-figure price tag comes as the Office for National Statistics (ONS) reveals that annual house price growth in the UK has halved, with average prices rising by just 3.5% in the year to April. This followed a 7% rise in house prices in the 12 months to March 2025.

The average UK home now costs £265,000, according to the ONS.

More recently, Rightmove’s latest House Price Index shows that new seller asking prices dropped by 0.3% between May and the first weeks of June.

However, against a backdrop of slowing house prices, the property website says the million-pound house market is performing well.

Colleen Babcock, Rightmove’s property expert, comments: “The surge in million-pound homes for sale across Great Britain is substantial. 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 [in Surrey] is a standout, with 22% of its homes for sale now in the million-pound bracket. The number of areas outside of London where the average price is £1 million or more has also more than doubled, showing that the million-pound mark is becoming more common in various locations.”

Which areas have seen the biggest increase in million-pound properties for sale?

Compared with before the pandemic, Cornwall has seen the biggest increase in the number of £1 million or more homes for sale. The volume of million-pound properties in Cornwall has more than tripled (+246%) in six years. Uttlesford in Essex is second (+233%) and Somerset is third (+226%).

Unsurprisingly, London has the largest number of million-pound homes for sale of any region, with Westminster, Kensington & Chelsea and Wandsworth topping the list.

The area that is increasingly becoming a million-pound home market is Mole Valley in the South East, where 22% of homes for sale are now worth £1 million or more, compared with 10% back in 2019.

Meanwhile, the London Borough of Richmond has become the latest area to reach an average asking price of over £1 million for the first time. The average asking price is now £1,006,981.

The number of locations outside of London where the average price of property is £1 million or over has risen from 30 areas to 66 since 2019.

Source: Rightmove. The analysis looked at homes for sale between January and April 2025 compared with the same period in 2019.