OXFORD is ranked in the top five for areas outside of London with the most homes worth at least £1million.

More than 5,200 homes in the city are currently worth seven figures, according to the latest statistics from housing website Zoopla. 

The figures show that, outside of London, Guildford ranked first for the most £1million properties with 5,889.

Cambridge appears next with 5,530, Reading with 5,421, Sevenoaks with 5,416 and in fifth place Oxford with 5,242. 

The rankings also revealed more than half of the nation’s property millionaires are in London - which accounts for 430,720 homes worth at least a million. 

In total, 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. 

This is a jump of 22.95 per cent, or 143,476 more property millionaires since August 2016 when the data was previously analysed. 

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

The top ten areas, excluding London, with the highest numbers of million pound properties in full, according to Zoopla, are:

1. Guildford, 5,889

2. Cambridge, 5,530

3. Reading, 5,421

4. Sevenoaks, 5,416

5. Oxford, 5,242

6. St Albans, 4,981

7. Bristol, 4,792

8. Edinburgh, 4,759

9. Leatherhead, 4,707

10. Twickenham, 4,596 

 In London, the area which had the most million pound properties was Westminster with 54,231 and Kensington and Chelsea with 45, 366.