More than 768,000 people have been made property millionaires thanks to the soaring value of Britain’s bricks and mortar.

New analysis shows there has been a 22.95pc increase in owners of homes worth £1m or more since August 2016, when there were 625,077 millionaire homeowners compared to today’s 768,553.

Million-pound properties account for 2.7pc of the nation’s housing stock, according to property portal Zoopla, which provided the data.

While London is, unsurprisingly, home to more than half of the country’s property millionaires, with 430,720 – equating to 12.8pc of the capital’s total housing – at a more local level, leafy Guildford in Surrey ranks as the top UK town for being home to the most homes worth £1m or more.

The university hubs of Cambridge and Reading rank second and third respectively, with 5,530 and 5,421 property millionaires.