MORE than half a million people in Britain are now estimated to be “property millionaires” - meaning their home is worth at least £1m, according to figures released by a website today.
The total number of property millionaires across Britain now stands at 524,306 according to Zoopla’s property rich list, an 8.3 per cent increase on 2014.
There are 10,958 streets where the average property price tops £1m, though most of them are in London and the South East of England.
The most valuable property street in Yorkshire is Drewton, in Brough, East Yorkshire, where the average price is £2.5m.
Elsewhere in the region, Roundhay Park Lane, in Leeds, is the highest in West Yorkshire at an average of £1.5m and Aislaby, in Whitby, at £1.65m, is the highest in North Yorkshire.
South Yorkshire is the only area without a street topping £1m, with the highest value - £911,000 – recorded at Blue Ridge Close in Sheffield.
In all there are 99 streets in Yorkshire with an average house price above £1m. The postal code with the highest average is HG3 in Harrogate, at £375,000.
The highest value area in West Yorkshire is LS22 in Wetherby at £364,000, in South Yorkshire it’s S17, in Sheffield, at £321,000 and in East Yorkshire it’s HU14, in North Ferriby, at £313,000.
At the top end of the market, the findings show there are 13 streets in Britain where the average house price is over £10 million, all of which are in London.
Kensington Palace Gardens is ranked as the country’s most expensive street overall, with homes there worth £42.6 million on average.
The Boltons, where one house sold for £51 million this year, takes second place, with average property values standing at £30.3 million.
Grosvenor Crescent rounds out the top three, with an average property price of £22.7 million.
Of the 10,958 streets with an average property price of more than £1 million, more than two-fifths (43 per cent) are located in London with a further 34 per cent in the South East.
The areas outside London with the highest concentrations of £1 million-plus streets are all in Surrey, with Guildford, Leatherhead and Richmond housing 158, 154 and 144 streets respectively.
The regions with the lowest number of high value streets are North East England with 53, Wales with 17 and Northern Ireland with four.
Zoopla spokesman Lawrence Hall said: “London continues to be the epicentre of the million-pound property market in Britain, but the Zoopla property rich list reveals a number of high-value property areas outside the capital, particularly in Surrey and Buckinghamshire, that are very attractive to professionals seeking to live outside yet within easy reach of the city and enjoy low crime rates coupled with good schools.”
Earlier in the week it emerged that the average price of a house in the UK has topped £200,000 for the first time.
Halifax reported the average price is now £200,280, with property values around 9.6 per cent higher than a year ago.
The continuing rapid rise in prices is being fuelled by a record low number of homes for sale and has prompted warnings that would-be buyers are being priced out of the market.
The Royal Institution of Chartered Surveyors revealed the supply of homes for sale was at its lowest level since its data began in 1978.
Halifax did not produce an up-to-date regional breakdown of average prices but the bank’s figures for the first quarter of 2015 recorded Yorkshire and the Humber at £136,869 – up 7.7 per cent over the year.