When will your home be worth a million?

Online estate agent Zoopla has launched a new calculator that allows homeowners to see when their property will be worth one million pounds.

The million pound property calculator uses 20 years’ worth of Zoopla property price data to estimate when homes across Britain might hit the million pound price tag.

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Britain currently has 768,553 property millionaires according to Zoopla – a rise of 143,476 (22.95 per cent) property millionaires since August 2016 when the data was last analysed.

Lawrence Hall, spokesperson for Zoopla, said: “Our latest tool allows curious homeowners to dream a little, and see when their home might hit the million-pound mark.”

Zoopla’s research also found that there is still a north/south divide when it comes to property prices with the south having the highest number of million pound homes in the country.

London has the most property millionaires across Britain with 430,720 homes having a price tag of over one million pound.

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The South East follows in second place with 180,397 £1 million plus homes, and the East of England in third (69,840).

South West England and North West England were in fourth and fifth place with 33,717 and 12,552 £1 million plus properties, whereas the West Midlands (12,219), Scotland (11,101) and the East Midlands (6,845) were some of the less affluent regions.

Yorkshire and the Humber, North East England and Wales were revealed to have the least amount of property millionaires though with 4,103, 4,835 and 2,223 £1 million plus properties each respectively.