The number of homeowners in England and Wales sitting on property worth more than £1 million has shot up to 80,000, according to new figures.
Research from Portman Building Society revealed that over the last year the number of property millionaires has increased by nearly 32%.
Figures for the third quarter show that 78,219 homeowners in England and Wales have property worth in excess of £1 million, compared to 59,400 for the same period last year.
Nearly 60% of all property millionaires live in the capital, with 46,668 Londoners living in £1 million homes.
This represents a 38% increase on the same period last year.
The number of housing millionaires in the South East rose by 28% year-on-year to 19,040.
After London, the North West has shown the second greatest increase in the number of property millionaires. Rising property prices have contributed to a 37% hike in the number of wealthy homeowners in the region.
Only the North and Yorkshire and Humberside saw year-on-year falls in the number of property millionaires over the last year, according to the research.
Matthew Wyles, group development director at Portman Building Society, said: "London and the South East continue to dominate the property millionaires league table. This should come as no surprise.
"City bonuses have been generous and plentiful in recent years and much of this wealth has poured into residential property."
