More than 40,000 new property millionaires have already been created across the UK so far this year, reflecting the fact that house prices have increased across many parts of the UK since January.
Fresh figures released by property website Zoopla show that the volume of residential properties across the country worth at least £1m has increased by 40,800 since January.
In total, some 660,900 homes across the country are now estimated to be worth at least £1m, with four out of five (82%) of these properties located in London or the South East of England.
Kensington Palace Gardens in the W8 postcode of London, which mainly features imposing mansions, was identified as Britain’s most expensive street.
An average home in the road, which has previously been nicknamed ‘the boulevard of billionaires’, costs on average £38.26m to buy.
The Boltons, in the SW10 postcode was found to be the second most expensive street. A home in The Boltons is worth £33.31m typically.
Britain’s most expensive streets
1. Kensington Palace Gardens, W8, £38,266,143
2. The Boltons, SW10, £33,314,108
3. Grosvenor Crescent, SW1X, £21,635,151
4. Courtenay Avenue, N6, £19,000,018
5. Manresa Road, SW3, £13,281,914
6. Compton Avenue, N6, £13,212,238
7. Frognal Way, NW3, £12,797,040
8. Ilchester Place, W14, £12,774,204
9. Cottesmore Gardens, W8, £10,816,448
10. Chester Square, SW1W, £10,635,410
Britain’s most expensive neighbourhoods
1. SW7 (Knightsbridge) £2,715,273
2. W8 (Kensington) £2,706,626
3. SW3 (Chelsea) £2,530,643
4. W11 (Notting Hill) £1,858,258
5. SW1 (Westminster) £1,759,788
6. W1 (West End) £1,719,589
7. SW10 (West Brompton) £1,619,148
8. NW3 (Hampstead) £1,543,919
9. SW13 (Barnes) £1,537,919
10. NW8 (St John’s Wood) £1,478,024
Britain’s most expensive neighbourhoods outside London