Foreign influence has made an impact on the capital city, by pushing the demand for higher priced homes straight up. The city of London has seen a sizable increase in the number of the homes worth 1 million pounds or greater. The total has increased 11% to 123,236.

Zoopla recently published figures indicating 80% of all 1 million pound properties in the UK are located in London, and the Southeast. London has become quite the hot spot for the more ritzy properties, as the growth rate in the capital city is almost twice as fast as other areas within the UK.

Kensington leads the way in number of above average properties, where the number of those valued at 1 million pounds or more is greater than 50%.

Zoopla’s commercial director, Nick Leeming, commented on the disparity of wealth between areas of the UK, saying: "The North versus South wealth divide is now starker than ever. The prime market in the South has been impacted far less by the mortgage squeeze as a result of the inflow of foreign money and the strength in the City keeping demand for £1 million pads at peak levels."

Most agents agree, the number of millionaire homes will most likely continue to rise in 2011, even though property values will remain flat.

Chief executive of Winkworth, Dominic Agace, discussed what is expected for 2011 as far as pricing of property goes, saying: "Next year we're expecting prices in prime central London markets to rise 5%. Much of the money is coming from overseas. This year, 70% of our central London applicants were international buyers. The currency is still discounted and finance is affordable for those with equity."