House prices create 27,000 more property millionaires in 2011 - Telegraph

House prices create 27,000 more property millionaires in 2011 - Telegraph

New figures from Zoopla.co.uk, an online valuation service, say 26,744 more home owners had properties worth £1m more at the end of 2011 than at the same time last year, although the average British property value fell by 3pc to £221,128 over the same period.

"High prime demand" from equity-rich buyers and relatively low supply of large homes had created 73 new property millionaires every day in 2011, Zoopla said, and one in 108 homes was now worth £1m or more; at the peak of the property market in 2007 the figure was one in 97.

There are now 253,118 homes valued at more than £1m in Britain, the research found. The biggest rise in the number of property millionaires was in London, where the number .........