There was a time when being a property millionaire, with a home worth north of £1 million—or about $1.186 million—meant something in the British capital. Today, not so much. The average resale home, not including new builds, in London has a sale price of £537,510, or roughly $637,200, according to British government data. But owning a seven-figure property in the nation’s capital is becoming increasingly commonplace. According to research by estate agent Hamptons, the average sale price of homes in 41% of all London’s 283 postal codes was £1 million or more as of November 2022.

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