100k homes added to the £1m-plus club

Soaring house prices have created almost 100,000 property millionaires since the start of the pandemic, research has revealed. High demand and low supply, coupled with a stamp duty holiday, have led to record house prices since the first lockdown, with the average home gaining £31,000 in value in the past year. Last week, the Office for National Statistics (ONS) said that the average house price had risen by 13.2% in the year to June - the highest annual growth rate since 2004. It is now £266,000. Of the estimated 770,000 homes worth £1m or more, 98,931 have crossed that line since March 2020, according to research for this newspaper by the independent analysts TwentyCi. 

The Sunday Times (22/08/2021)