The data from property website Zoopla shows that some 92,985 new property millionaires were created which amounts to 255 per day, up 31% compared to this time last year.
Kensington and Chelsea is home to highest number or property millionaires while Wales is British region with the fewest number of property millionaires, numbering just over 1,000 in total but still up 24% on 2012.
It is a limited supply of prime property in London that is fuelling the boom. Some 57,120 London homes have been pushed over the £1 million price mark in the last 12 months, creating 156 new property millionaires in the capital every day throughout 2013.
The exclusive borough of Kensington and Chelsea is home to the highest number of property millionaires totalling 41,393 or 17% of the capital’s total, despite being the smallest London borough covering just 12 square kilometres.
Westminster, home of such famous Monopoly addresses as Mayfair and Park Lane, comes next with 40,087 property millionaires, followed by Camden with 23,873.
Outside London, 21,028 more property millionaires were created in the South East during the past year, bringing the total to 82,614. The highest proportion of property millionaires outside the capital can be found in the affluent Surrey area of Virginia Water where 32% of homes are now worth over £1 million. Beaconsfield and Chalfont St Giles come in second and third respectively for having the highest proportion of million pound homes.
‘While government schemes such as Help to Buy have concentrated popular attention on the lower rungs of the property ladder this year, there’s been a hive of activity propelling house price growth at the top end of the market,’ said Lawrence Hall of Zoopla.
‘As more and more British properties climb past the million pound level, the impact of a possible Mansion Tax would be wide reaching and risk impacting a significant number of British home owners both at the top of the market and on the lower rungs of the property ladder,’ he added.
