"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"
- Colleen Babcock - Rightmove
The number of homes listed for sale at £1 million or more has more than doubled across Great Britain in the past six years, new research by Rightmove has revealed.
Data from the platform shows that just over 5% of homes on the market between January and April 2025 were priced at £1 million or higher. In 2019, the proportion stood at just under 3%, representing a 103% increase in volume.
The surge in million-pound listings is not limited to the capital. Cornwall has recorded the sharpest rise, with a 246% increase in properties at or above the million-pound mark. Uttlesford follows closely with a 233% increase, while Somerset has seen a 226% uplift.
As expected, London continues to dominate the million-pound property market. Westminster, Kensington & Chelsea, and Wandsworth have the highest number of such listings. However, other areas are catching up.
In Mole Valley, 22% of homes currently for sale are priced at £1 million or more, up from 10% in 2019. The borough has emerged as a key area in the shift toward higher-value listings outside London.
Rightmove’s research also shows that the number of areas outside the capital where the average asking price exceeds £1 million has more than doubled since 2019. Six years ago, 30 areas met this threshold; that number has now risen to 66.
The London Borough of Richmond has joined that list for the first time. The average asking price for a property in Richmond is now £1,006,981.
"The surge in million-pound homes for sale across Great Britain is substantial," said Colleen Babcock, property expert at Rightmove. "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."
Toby Leek, practising London estate agent and president of NAEA Propertymark, noted: "The popularity and desire for our London capital remains strong, and with that comes increasing house prices, particularly in certain 'high-value' pockets such as Kensington and Chelsea. However, with huge social and economic changes happening, especially over the past decade, trends have shifted, meaning homeowners are looking for varying characteristics and locations, making rural, seaside and picturesque outer London areas much more appealing."
