Only three new £1mn+ property markets created in the last year

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Stubbornly high mortgage rates mean fewer £1mn housing markets are being created, writes Tom Bill as Cambridge, Chichester & Winchelsea join the seven-figure club.

Written by

Tom Bill

Head of UK Residential Research at Knight Frank

Tom Bill is Head of UK Residential Research, producing reports that include Knight Frank’s flagship Prime Central London indices, the Super Prime London Insight and the London Residential Review. He has written detailed reports on London sub-markets and contributes to The Wealth Report and Global Cities report. Tom, a former Bloomberg and Reuters property journalist, is a regular media contributor on the London property market and has presented at events in Europe and the Middle East.

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