Nearly 20,000 property millionaires in Wandsworth, survey reveals

Wandsworth Guardian: This house in Roehampton's Rodean Crescent sold for £6.7m This house in Roehampton's Rodean Crescent sold for £6.7m

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

                                                      millionaires

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                                              

Kingston            4,328                                               5

 

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Comments (1)

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3:11pm Mon 6 Jan 14

buggsie says...

Many house in Earlsfield sell at over £1 million. Many of them though which are family homes - were never that price when the owners bought them 50/60 years back. So whilst these owners are property rich they certainly don't have £squids to throw around.
Many house in Earlsfield sell at over £1 million. Many of them though which are family homes - were never that price when the owners bought them 50/60 years back. So whilst these owners are property rich they certainly don't have £squids to throw around. buggsie

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