Surrey districts see fast rise in houses costing over £1m
One in five properties in Waverley is valued at more than £1m while the figure stands at one in four in Elmbridge. Just over 5% of homes for sale across Britain are now priced at £1m or more, compared with just under 3% in 2019, Rightmove said.The website says the Covid-19 pandemic has driven property demand outside the capital and into commuter belt locations, citing Waverley as an example. Additionally Elmbridge has the ninth biggest concentration of million-pound homes in England, Wales and Scotland.
Ms Babcock said: "Since 2019, we've seen the number of million-pound homes for sale double, with over 5% of the market now priced at a million pounds or more."This isn't just happening in London; places like Cornwall, Uttlesford, and Somerset are also seeing big jumps in the number of high-value properties."Elsewhere in the South East, Tunbridge Wells saw a 183% rise in volume of million-pound or more homes since before Covid. Local areas included in Rightmove's research were those with at least 10 or more homes for sale during the time periods analysed.
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