Nearly 20,000 property millionaires in Wandsworth, survey reveals
More than 19,000 property millionaires live in Wandsworth, according to new figures from property website Zoopla.co.uk.
Only four other London boroughs contain more property millionaires than Wandsworth, reinforcing its position as one of the most affluent areas in the capital and country.
The data shows Wandsworth contains almost ten per cent of the capital's £1million plus homes, despite being home to just three per cent of London's population.
Kensington and Chelsea is home to the highest number of property millionaires totaling 41,393 - 17 per cent of the capital’s total - despite being the smallest London borough covering just 12km².
Westminster (40,087), home of such famous Monopoly addresses as Mayfair and Park Lane, Camden (23,873) and nearby Hammersmith & Fulham (21,652) round off the top four.
Lawrence Hall, of Zoopla.co.uk, said: "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.
"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 homeowners both at the top of the market and on the lower rungs of the property ladder."
More than 57,000 London homes have increased beyond the £1 million mark in the last 12 months, creating 156 new property millionaires in the capital every day throughout 2013.
The total number of British property millionaires now stands at 393,127, up 31 per cent compared to this time last year.
The highest proportion of property millionaires outside the capital can be found in Virginia Water, in Surrey, where 32 per cent of homes are now worth more than £1 million.
Borough £1m+ Properties Percentage of property
Ken/Chels 41,393 52
Westminster 40,087 35
Camden 23,873 22
Hammersmith 21,652 27
Wandsworth 19,852 15
Richmond 14,192 17
Islington 12,746 12
Lambeth 8,094 6
Merton 6,343 7
Kingston 4,328 5
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