Property Reporter | According to recent insights from Rightmove, Scotland has overtaken London as the UK’s fastest-moving market for million-pound properties. Prime homes in Scotland are now selling in just 61 days on average, a 25-day improvement from pre-pandemic levels.
This trend signals a significant shift in buyer behaviour and underscores the evolving dynamics of the UK’s luxury property sector. The data compares performance from the year before the pandemic to the year after the market reopened, revealing how regional priorities and affordability are reshaping demand in the high-end housing market.
Scotland Leads, London Falls Behind in Prime Property Sales
While Scotland tops the charts, other strong-performing regions include the East of England, South East, and East Midlands. Notably, London now ranks fifth in the country, with million-pound homes taking an average of 67 days to sell. Though this represents an improvement over pre-COVID timelines, capital is no longer the dominant force in the UK prime property market.
Evolving Trends in the Million-Pound Property Market
The £ 1 million property market in the UK is experiencing a clear shift in buyer behaviour, driven by lifestyle changes and post-pandemic priorities. Once heavily concentrated in London, high-end property transactions are now diversifying across regions.
London’s Declining Dominance
Before the pandemic, London accounted for 47% of all million-pound home sales. Today, that share has fallen to 40%, reflecting a shift in affluent buyers’ preferences. As demand for spacious living and remote-work flexibility grows, buyers are increasingly exploring opportunities outside the capital.
The Rise of the South East
The South East of England has become a notable hub for luxury real estate. Its share of million-pound transactions has risen from 26% to 29%, suggesting a shift in wealth and investment toward suburban and semi-rural areas. This change underscores a broader trend in the UK property market, where proximity to London remains valued but is no longer essential.
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Record Growth Across the UK
Despite broader economic uncertainty, million-pound property sales have surged 80% from pre-pandemic levels, far outpacing the 37% increase in overall property transactions. This resilience highlights the strength and appeal of the prime property market, a sector that advisers should not overlook when assessing client opportunities.
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Wales: A Hidden Hotspot
Perhaps the most surprising development is in Wales, where million-pound home sales have skyrocketed by 164% since the pre-pandemic period. Although these properties still represent just 0.6% of total UK transactions, the growth signals rising demand in traditionally overlooked regions. Advisers supporting clients with rural or relocation strategies may benefit from resources offered by our Adviser Network for the Newly Qualified, especially those entering emerging regional markets.
A Broader Shift in Buyer Preferences
Overall, the UK luxury property market is transforming. London’s grip is loosening, and affluent buyers are prioritising lifestyle, space, and connectivity over postcode prestige. For advisers navigating these shifts, aligning with an FCA-compliant mortgage network that supports complex lending and evolving client needs is more important than ever.
Local Property Market Trends Reflect Broader Shifts in 2025
At the local level, the UK property landscape is undergoing a significant transformation. In the scenic village of Stockbridge, Hampshire, the share of homes selling for £1 million or more has surged from 11% to 26%. This rise in high-value property transactions reflects increasing demand in premium rural markets, driven by shifting buyer priorities and hybrid working.
Meanwhile, Thames Ditton stands out as a fast-moving property hotspot. Here, million-pound homes are selling in as little as 26 days, underscoring the strength and resilience of high-end residential demand. These trends illustrate how local markets are adapting rapidly to broader economic and regulatory conditions.
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Prime Market Growth Broadens UK’s Million-Pound Property Landscape
According to Tim Bannister, Director of Property Data at Rightmove, the UK’s prime property market has significantly outperformed the wider housing sector over the past year. This upward momentum has been largely driven by home movers stepping up the property ladder, many of whom are relocating further afield to secure more space or settle into their forever homes.
While London remains a stronghold for high-value sales, a notable shift has seen wealthy buyers trading urban commutes for rural living. These changing lifestyle preferences have not only increased demand in commuter belts and rural areas but also expanded the distribution of million-pound homes across Great Britain. Bannister explains that this shift is “helping push large portions of the UK’s housing stock into higher price brackets, resulting in a broader geographic spread of £1m+ properties.”
Resilient Growth in Scotland’s £1m Property Market
Dr John Boyle, Director at Rettie & Co, highlights how Scotland’s million-pound market has shown remarkable resilience in the wake of economic disruptions. “The £1m+ segment has maintained strength, with demand consistently outpacing supply, a trend seen across the broader UK housing market,” he says. This mismatch has fuelled price growth and accelerated sales velocity.
Edinburgh continues to lead, accounting for over half of Scotland’s seven-figure home sales. Yet, growth isn’t limited to the capital. The wider Lothians region is experiencing a surge in £1m transactions, particularly in eastern outlying areas. This indicates that affluent buyer interest is expanding beyond traditional hotspots, aligning with national trends toward decentralisation and lifestyle-driven moves.
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