# One in 45 homes in Britain now worth £1m, property firm says

By Aneisha Beveridge — 2026-02-02

Aneisha Beveridge, research director at Hamptons and Connells Group, said: “Prime markets have been far more sensitive to change over the last year.

“The end of the stamp duty holiday in April, followed by ongoing uncertainty about the future direction of property taxation, offset what could have been a stronger year for higher value homes – particularly given the gradual fall in mortgage rates.

“Instead, many prime markets spent much of 2025 adjusting to a more complex backdrop.

“Looking further back, price performance over a five to 10 year period has also played a role.

“In parts of the country where values have drifted down or broadly flatlined, households have had less incentive to move.

“Prime Central London has sat in that category for the best part of a decade, but more recently it has been joined by some of the prime pockets outside the capital that saw prices rise swiftly during the post-Covid race for space.

“Values in those areas have softened in recent years as pandemic era lifestyle drivers have faded and borrowing costs have risen.

“With fewer homes now sitting above the £1m mark, it’s clear that shifts in taxation, changing buyer priorities and a cooler pricing environment have had a more pronounced effect at the top end of the market.

“While demand hasn’t disappeared, prime buyers and sellers are operating with a far more cautious lens than they were a few years ago.”

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