The size of so-called ‘property millionaire’ homes varies enormously depending on location. Nowhere is this more true than in London.

We know that some two-thirds of the UK’s million-pound homes, around 250,000, are in London, and it’s no surprise the smallest homes are found in the heart of central London.

As an extension to previous analysis, we have now mapped what £1million buys you in each London borough, ranging from an average of just 806 square feet in Kensington & Chelsea – most likely a one-bedroom flat – to 2,398 square feet in Croydon and 2,475 in Havering.

We also know that buyers tend to migrate out from central London when they need to make their money go further, perhaps with the arrival of a child, and there are established routes for the flow of such equity.

By crossing the Thames from Kensington & Chelsea, via Hammersmith & Fulham (where £1million stretches to 1,075 square feet) to Wandsworth means this seven-figure investment will stretch to 1,214. Move a little further out, to Kingston upon Thames, and you’d get 1,659 square feet.

It's no surprise then, that we have long seen housing equity migrating across the Thames, and often ultimately moving out down the ‘A3 wealth corridor’, in search of a larger home.

The same trend can be seen whether it’s north, south, east or west from the centre. In every direction, your money will buy you more home, and so it ripples through the commuter belt and out into the prime regional markets.

Source: Savills Research

Further information

Read more: 'Property millionaires double in a decade'