St Albans scores high on list of Britain’s property millionaires

The number of property millionaires is on the increase

The number of property millionaires is on the increase - Credit: Getty Images/iStockphoto

St Albans has the sixth highest number of property millionaires in Britain outside London, a new study has revealed.

According to Zoopla, 10 per cent of St Albans’ housing stock is made up of £1m-plus properties – a total of 4,981 individual homes.

The current average property value in St Albans is £596,890.

Guildford topped the list with 5,889 £1m-plus properties, followed by Cambridge, Reading, Sevenoaks and Oxford.

Not surprisingly, most of Britain’s 768,553 property millionaires – whose homes account for 2.7 per cent of the nation’s housing stock - live in London.

There are 430,720 £1m-plus homes in the Greater London area - 12.8 per cent of the capital’s total.

And their number is ever increasing: there are now 143,476 (22.95 per cent) more property millionaires in Britain than there were in August 2016 when the data was last analysed.

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Lawrence Hall, spokesperson for Zoopla, said: “Whilst there might be a greater number of £1m-plus properties than ever before, the data shows that they still only represent a small fraction of all UK housing stock.”

Want to see when you’ll make the property rich list? Have a look at Zoopla’s £1m property calculator tool, which shows homeowners when their property might make the cut.