Rightmove: Number of million-pound homes for sale doubles since 2019
The number of homes for sale priced at £1 million or more has doubled since pre-pandemic levels in 2019, research suggests.
Analysts by Rightmove suggests just over 5% of Great Britain’s property for sale is now priced at a £1 million or more compared with just under 3% in 2019. The analysis compared homes for sale between January and April 2025 with the same period in 2019.
Compared with before the pandemic, Rightmove says Cornwall has seen the biggest increase in the number of one-million pound or over homes for sale. The number of million-pound properties in Cornwall has more than tripled (+246%) in six years. Uttlesford is second (+233%) and Somerset is third (+226%).
Not surprisingly, London has the largest number of million-pound homes for sale, with Westminster, Kensington & Chelsea and Wandsworth topping the list.
Mole Valley in Surrey, located near the River Thames, is becoming an increasingly sought-after million-pound market for buyers. More than a fifth (22%) of homes for sale in Mole Valley are priced at one-million pounds or more, an uplift of 12% in six years.
The London Borough of Richmond has become the latest area to reach an average asking price of over a million pounds for the first time. The average asking price for a home in the Borough of Richmond is now £1,006,981.
Across the thousands of local housing markets on Rightmove, back in 2019, there were 30 areas outside of London with an average asking price of one-million pounds or more. Six years later, that number has more than doubled to 66.
Colleen Babcock, Rightmove’s property expert, said: “The surge in million-pound homes for sale across Great Britain is substantial. Since 2019, the number of million-pound homes for sale has doubled, with over 5% of the market now priced at £ 1 million 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."
How many lenders offer £1 million mortgages? And what are the rates?
Trinity Financial's brokers have access to an extensive list of lenders offering mortgages of £1 million+ to borrowers seeking larger mortgage loans.
Many of the larger banks and building societies have set up specialised teams to issue and agree larger mortgage loans.
The most competitive £1 million+ mortgages are priced around 3.90%, although most of the lenders' rates are slightly higher. There is still a selection of sub-4% £1 million mortgages.
Call Trinity Financial on 020 7016 0790 to secure a £1 million+ mortgage, book a consultation, or complete our mortgage questionnaire.
The information contained within was correct at the time of publication but is subject to change.
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