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An Essex neighbourhood is one of just 95 areas in the whole UK where average house prices are more than £1m.

House price surges have made properties increase in value to more than £1 million in 95 wards in the country, according to new research.

And while the vast majority are unsurprisingly in London, one pocket of Essex also makes the list.

Hutton South in Brentwood now has an average house price of £1,109,136, according to analysis by Savills estate agents.

The Telegraph reports that the analysis found the number of millionaire neighbourhoods in Britain rose by a fifth in 2021.

Read more: Get the latest property news from across Essex

There are now 95 wards across the country where homes cost more than £1m, up from 80 last year.

The jump was caused by a rapid increase in demand for property, as a result of lockdowns and the stamp duty holiday.

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The stamp duty holiday encouraged many people to purchase homes during the last year, as it raised the nil-rate tax band to £500,000 from July 2020 to June 30, 2021.

The tax band then tapered to £250,000 until September 30, 2021.

It meant buyers could save up to £15,000 if they completed on buying their property within this window.

However, it’s meant that the cost of houses in many areas has increased dramatically, which could have the consequence of pricing many people out of the housing market.

Just one in 10 wards in the country now have an average house price of less than £150,000.

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