Magic Million - analysis shows seven figure property ...

Analysis of £1m-plus sales by property consultancy TwentyCi, analysed by estate agency Savills, suggests that London locations continue to dominate the seven-figure property landscape.

The boroughs of Kensington & Chelsea, Westminster, Camden, Hammersmith & Fulham and Richmond Upon Thames had the highest percentage of sales over £1m in 2023. Only two non-London locations made the top 10 - Elmbridge and Mole Valley.

“New one million-pound hotspots popped up across the breadth of Great Britain in the wake of the pandemic, as affluent home buyers changed priorities in the search for more space. However in 2023, prime property prices held up stronger in the capital than across the rest of the Country (-1.1% vs -4.8%), meaning London boroughs have been more easily been able to hold on to their share of £1m property sales” according to Savills’ head of residential research, Lucian Cook.

Local authorities with highest percentage of sales over £1 million in 2023

Rank	Local authority	Region	£1m+ agreed sales 2023	% of all agreed sales in LA
1	Kensington and Chelsea	London	1,600	61.6%
2	Westminster	London	1,554	48.6%
3	Camden	London	883	37.8%
4	Hammersmith and Fulham	London	908	37.0%
5	Richmond upon Thames	London	849	31.9%
6	Elmbridge	South East	759	29.3%
7	City of London	London	43	26.9%
8	Islington	London	684	26.2%
9	Wandsworth	London	1,357	24.2%
10	Mole Valley	South East	313	19.2%