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Rising house prices mean 1 in 79 Britons are now a millionaire


Soaring house prices in the UK mean that one in every 76 Britons is now a millionaire, up from one in 84 last year.

There are currently 625,000 millionaires in the UK, the highest level on record, with the number of people worth £1m having risen by 44,000 (7.6%) in the past 12 months.

Every region in the UK besides Scotland has seen an increase in its number of millionaires since last year.

London continues to dominate as the UK’s most prosperous city. However, Newcastle and Birmingham enjoyed the biggest year-on-year increases in GDP per capita – at 4.4% and 4.2%, respectively – growth that is well in excess of the overall UK figure (1.8%) over the same period.

When it comes to house prices, almost every city has experienced higher house price growth than London (up 3%), with Birmingham (8%) and Manchester (7%) enjoying the biggest increases.

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Rising house prices mean 1 in 79 Britons are now a millionaire
By David Price