The UK’s high-end housing market is undergoing a remarkable shift. According to recent data, the number of homes listed at £1 million or more has doubled since 2019 — a clear sign of changing dynamics in the residential property sector.
As of early 2025, over 5% of all homes for sale in Great Britain now carry a £1 million+ price tag. This is a significant jump from just under 3% back in 2019, before the pandemic altered demand patterns and reshaped regional preferences.
While London remains the heartland of high-value real estate — with Westminster, Kensington & Chelsea, and Wandsworth continuing to dominate — the biggest surprise is the regional expansion of million-pound listings.
Even Surrey’s Mole Valley has evolved into a prime market, with 22% of its current listings now in the £1 million+ range — up 12% over six years.
The trend is creating new luxury zones across the UK. Richmond, for example, has recently joined the elite club of areas where the average asking price exceeds £1 million, now sitting at £1,006,981.
Back in 2019, just 30 locations outside London had an average asking price of £1 million or more. Fast forward to today, and that number has more than doubled to 66 areas, proving that the premium market is no longer confined to the capital.
The growth of the £1 million+ market presents unique opportunities for investors:
This broadening of the prime market suggests that investor strategies need to evolve. Keeping a close eye on rising regions, rather than just established London postcodes, could uncover the next big investment opportunity.
As always, understanding local dynamics — from supply constraints to demographic shifts — will be key to maximising returns.
Magnate Assets offers a curated portfolio of high-growth and high-yield residential developments across the UK — including luxury buy-to-let and off-plan options tailored for international investors.
Speak to our advisors today and discover where your next million-pound opportunity could be.