The number of homes on the market with a price tag of £1 million or more has more than doubled across Great Britain in the past six years, according to new research by Rightmove.
The property portal’s analysis shows a 103% rise in million-pound homes for sale compared with pre-pandemic levels in 2019.
These properties now make up just over 5% of all listings, up from under 3% six years ago.
While London remains the epicentre of the luxury market – with Westminster, Kensington & Chelsea, and Wandsworth topping the table – it is regional markets that are seeing the most dramatic growth in high-value listings.
CALLING CORNWALL
Cornwall leads the way, recording a 246% increase in the number of homes for sale priced at £1 million or more. It is followed by Uttlesford in Essex (+233%) and Somerset (+226%), reflecting a broader shift in buyer demand since the pandemic, as high-end buyers look beyond the capital for space, lifestyle and long-term investment.
One of the most notable shifts is in Mole Valley, Surrey, which has seen the proportion of million-pound listings jump from 10% in 2019 to 22% in 2025 – more than one in five properties on the market.
Rightmove’s data also reveals that the number of locations outside London where the average asking price now exceeds £1 million has more than doubled – from 30 in 2019 to 66 this year.
Among the latest areas to join that elite club is the London Borough of Richmond, where the average asking price has crossed the seven-figure threshold for the first time, now standing at £1,006,981.
SUBSTANTIAL SURGE
Colleen Babcock, property expert at Rightmove, says the data reflects both rising prices and a growing appetite for premium homes beyond traditional hotspots.
She adds: “The surge in million-pound homes for sale across Great Britain is substantial. 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.”
The findings, based on homes listed for sale between January and April 2025 compared with the same period in 2019, highlight the growing footprint of Britain’s top-tier property market. They also point to a shifting definition of what constitutes a “prime” location, as high-value homes increasingly pop up well beyond the capital’s postcodes.
CHANGING TIMES
Toby Leek, practicing London estate agent and President of NAEA (National Association of Estate Agents) Propertymark, says: “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.”
