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Kerching!: 12,000 West Midlands home owners now property millionaires

By David Cosgrove | Property | Published:

More than 12,000 homeowners in the West Midlands are now 'property millionaires,' according to a new survey.

Pedmore Hall

The region's figures have been revealed as it emerged there has been a rise of nearly a quarter in the number of property millionaires nationally since August 2016.

More than half of the nation's property millionaires are in London – which accounts for 430,720 of the total.

And there are 12,219 in the West Midlands, the research by property site Zoopla has found.

Lawnswood House

Among those property millionaires in the region are the new owners of Lawnswood House in Stourbridge.

The luxurious 19th century home, which was on the market for £1.95 million, was snapped up for an undisclosed sum in November.

It is set in 35 acres of land and was originally put up for sale in 2015 at £2.5 million.

The house features four main reception rooms, kitted out with 'valuable' fireplaces and ornate plasterwork.

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A main lodge acts as an entry with a winding driveway passing through the landscaped gardens and stable complex.

There are mature trees such as cedars, beech, oak and others which adorn the large lawned areas, terraces, pathways and borders.

The home includes four bathrooms, seven bedrooms and some attic bedrooms on the second floor, as well as a four-car garage.

It also boasts a tennis court and swimming pool.

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Pedmore Hall

Another stunning multi-million pound Black Country home is Pedmore Hall on the outskirts of Hagley.

The stunning six-bedroom mansion – set in a 47-acre private estate – is still on the market for a cool £4.25 million.

That will get you the huge family home, but also a tennis court, football pitch, wildlife pond, indoor heated swimming pool and gym.

Most striking about Pedmore Hall, is its white-pillared frontage.

Estate agents Knight Frank said the ‘immaculate’ property on the outskirts of Hagley has only been on the market once in six decades.

Its paddocks and 17th century coach house are still standing. Pedmore Hall was built on the site of the original Pedmore Manor, which was demolished in 1607.

The manor's replacement underwent many changes, eventually entering disrepair and being demolished in 1956, with only the original coach house and stables remaining.

The new Pedmore Hall has 'retained the symmetry of the original design, but created a much more modern, light and airy property' according to its sellers.

Prospective buyers of a lavish Georgian mansion in Staffordshire will also find themselves ranked on the property millionaires ladder in the region.

The Manor in Pattingham is up for sale

Estate agents Peter James Property are looking for offers in the region of £2.25m for The Manor in Pattingham. It is described as an 'exceptional' five-bed home.

Featuring a block of eight stables, brick built barn and farm offices, Little Moor’s The Manor also offers five double bedrooms, two bathrooms and it has three reception rooms.

The home sits among miles of glorious countryside and includes an impressive hall with a smooth flagstone floor.

Large sash bay windows frame the property’s beautiful views, while period fireplaces sitting in a number of rooms bring a touch of 18th century elegance to the lavish home.

Polished wood flooring, believed to have been flown in from French landmark the Palace of Versailles, extends across the dining room.

Families can snuggle up in front of a wood-burning stove within the property’s sitting room after retreating to the extensive cellars to grab a bottle of wine.

A stained glass roof light illuminates the landing, shedding light upon The Manor’s wide staircase leading to the spacious bedrooms.

With planning permission to build a further four rooms, the luxurious Manor also includes its own leisure complex with a heated indoor pool alongside a garage and workshop space.

Property millionaires

Zoopla has found nearly 770,000 households across Britain are now 'property millionaires'.

There are now 768,553 homes across Britain valued at at least £1 million – accounting for 2.7 per cent of the nation's housing stock, according to the website.

Unsurprisingly, large concentrations of property millionaires are in London and the south east of England.

The research found there are more than double the number of million-pound properties in Guildford, Surrey than there are across the whole of Wales.

Guildford was identified as the top million-pound property hotspot outside London, with 5,889 homes there valued at £1 million-plus.

Wales was found to have 2,223 homes worth £1 million or more.

Zoopla released the research to mark the launch of its new property calculator tool - million-pound-calculator.zoopla.co.uk - which gives homeowners indications of when the value of their own property may eventually reach the £1 million mark.

Zoopla said places with particularly high concentrations of million-pound homes also include Cambridge, Reading, Oxford, St Albans, Bristol and Edinburgh.

David Cosgrove

By David Cosgrove
Chief Reporter - @davidcosgrove_

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