The number of homeowners in Britain whose property is worth £1m or more – making them ‘property millionaires’ – has exceeded half a million for the first time, according to the 2015 Zoopla Property Rich List (http://www.zoopla.co.uk/richlist).

The number of property millionaires now stands at 524,306 – an increase of 8.3% on last year’s figure. The growth in house prices at the top end of the market has helped fuel the increase in the number of streets with average property values of £1m+. There are now 10,958 streets in Britain with average property prices over £1m with 43% located in London.

Areas outside the capital with the highest proportion of £1m+ streets are all in Surrey, with Guildford, Leatherhead and Richmond housing 158, 154 and 144 respectively.

At the very top end of the market, the data shows there are now 13 streets in Britain where the average house price is over £10m – all of which are in London. Kensington Palace Gardens in W8 ranked as the country’s most expensive street overall, with homes there worth £42,591,972 on average, over 150 times the average national property value.