Citywire printed articles sponsored by:
View the article online at http://citywire.co.uk/money/article/a412943
Five fold increase in UK property millionaires since 2000
There has been a five fold increase in the number of property millionaires in the UK in the past decade, with the credit crunch proving a mere blip in the fast upward trend, according to Santander.
Markets
There has been a five fold increase in the number of property millionaires in the UK in the past decade, with the credit crunch proving a mere blip in the fast upward trend.
The research from Santander showed that around 78% of residential homes worth over £1 million are in Greater London, with the SW post code accounting for nearly a third of all the nation’s million pound properties.
There are now 131,996 'million pound' properties in Britain, according to the Spanish bank.
The ten areas with the largest number of residential homes worth more than £1 million in 2010 all have London or Home Counties postcodes, according to the research. Next on the list is Edinburgh.
Tools from Citywire Money
Today's articles
- Market Blog: Bargain hunters maintain upper hand on FTSE
- Asset allocation: where bonds fit in to the big picture
- The Expert View: Mothercare, Burberry and Moss Bros
- Friday Papers: Insults fly over troubled HP buyout
- Overnight Markets: US stocks gain as Europe offsets China concern
- Citywire Top Stocks Daily News Digest
- Market Blog: bargain hunters drive FTSE to strong finish
- Why ‘free’ banking is a dangerous myth
3 comments so far. Why not have your say?
Dr B
Jul 08, 2010 at 09:30
On paper yes, but in real terms the value of these properties will probably halve in the next decade.
report thisChrist Jesus
Jul 08, 2010 at 10:08
In Zimbabwe they're all millionaires. No, trillionaires!
There is only one place this will lead: HYPER-INFLATION.
You'll be luck y to be paid £100 in the morning for a day's pay and for it to be enough to pay for a loaf of bread by the afternoon.
Already people are saying ,"A million quid ain't what it used to be." In the future, expect this trend to continue tremendously.
report thisAnonymous 1 needed this 'off the record'
Jul 08, 2010 at 17:06
Dont suppose Dr B lives in a million pound house. Be fearful when everyones being brave, and brave when their fearful. Only dead fish go with the flow
report thisleave a comment
Please sign in here or register here to comment. It is free to register and only takes a minute or two.