According to a report from Rightmove, around 5% of homes for sale across Great Britain are priced at £1m or more, an increase from just under 3% in 2019.
The analysis looked at homes for sale between January and April 2025 compared to the same period in 2019.
Looking at house prices from a regional perspective, Cornwall has seen the biggest increase in the volume of million-pound homes for sale, with a 246% increase over the period.
Uttlesford came second with a 233% increase and Somerset came third with a 226% rise over the period.
From a proportion perspective, the Mole Valley in the South East has seen the proportion of homes for sale that are £1m rise from 10% to 22% from 2019 to 2025.
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Waverley in the South East has seen a similar increase from 11% to 22%, while Windsor and Maidenhead has gone from 13% to 23% over the period.
Westminster topped the chart as the area with the largest number of £1m properties for sale, followed by Kensington and Chelsea and Wandsworth.
While London boroughs made up eight out of 10 of the areas with the largest number of million-pound properties for sale, Buckinghamshire ranked fourth and Elmbridge took ninth position.
Colleen Babcock, Rightmove’s property expert, said: “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.
“Mole Valley 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 a million pounds or more has also more than doubled, showing that the million-pound mark is becoming more common in various locations.”
