A recent survey by property website Zoopla found that there are over 750,000 property millionaires in Britain. The survey also highlighted that more than half of the homes in the south of England were valued at £1m or above. It comes after reports of a slowing market.
These recent statistics show a 23% increase in the number of property millionaires since August 2016. The figures reveal that 1 in 20 people in the capital are property millionaires, compared to 1 in 1,400 in Wales. London’s total number of property experts is thought to be around 440,000 with Yorkshire & Humberside and Wales having around 4,100 and 2,200 respectively.
Self-made multi-millionaire Aaron Scott believes the property market has a prosperous future. “The right location and price are key to a fruitful and stable property portfolio. If you have both of these, you’re on the right path.”
He continued: “As a long-term investor, if you’re achieving a rental yield over 6%, then you shouldn’t go wrong.”