2.5% U.K. Homes Are Now Worth £1 Million at least
February 12, 2023 - United Kingdom
A whopping one in 40 United Kingdom homeowners are now property millionaires, a result of the pandemic-induced home-buying boom, according to a report Wednesday from Savills.
There are now 730,390 homes valued at £1 million (US$1.21 million) or more across the U.K., equating to 2.5% of all housing stock, the real estate agency said.
In the past three years, the total has jumped some 40%, and in 2022 alone 41,223 homes surpassed the million-pound threshold, bringing the total value of Britain’s big-ticket home market to £1.43 trillion.
UK, Homes, 2.5%