8,893 property millionaires created in Scotland this year

Picture: geograph.org
Picture: geograph.org
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In 2015, 200 property millionaires were created each day in the UK with all regions except Scotland experiencing a rise.

The number of homeowners in Britain whose property is worth more than £1 million now stands at more than 600,000, according to property website Zoopla.

While more than one in 10 London homes (82 per cent) are now worth upwards of £1m, there was a fall of 4.5 per cent in Scotland.

The number of property millionaires in the country has fallen to 8,893 since the start of the year.

Data released by the website in July revealed that only 121 streets in Scotland are home to property millionaires, in contrast to 4,700 in London and 3,700 in the South East.

Overall, an increase of 14 per cent in Britain over the past 12 months was recorded. 

Here are the numbers of property millionaires across Britain according to Zoopla, with the percentage change over 2015:

- East of England, 46,863, 28.3 per cent

- Yorkshire and the Humber, 3,041, 24.4 per cent

- East Midlands, 4,284, 22 per cent

- North East England, 3,540, 19.7 per cent

- South East England, 133,063, 19.7 per cent

- South West England, 22,896, 18.4 per cent

- West Midlands, 7,306, 14.5 per cent

- Wales, 1,404, 11.4 per cent
- London, 380,337, 9.8%

- North West England, 8,412, 8.2 per cent

- SCOTLAND, 8,893, minus 4.5 per cent

Well over half of Britain’s million-pound piles are located in the London. In total, 380, 337 homes in the city are now above the million-pound threshold, a 10 per cent increase.

READ MORE: Record number of Scots billionaires on rich list

In the city, the majority of property millionaires were located in areas such as Westminster, Kensington and Chelsea.

At the other end of the spectrum, Wales has the fewest million pound properties in Britain with only 1,404 in total—despite, a significant 11 per cent uplift since January.

Lawrence Hall of Zoopla commented: “With an improving economy and the ongoing lack of housing supply, this continues to put upward pressure on house prices at all levels of the market and has nudged a whole new raft of properties over the £1m mark.

“A price tag that was once the exclusive preserve of stately homes or massive mansions is now an increasingly common label for more modest houses, particularly in the capital.”