Nearly a quarter of a million homeowners are "property millionaires" because they occupy homes which have broken through the seven-figure barrier, says a new analysis.

According to a new online survey, an additional 12,800 property millionaires were created in 2010, equivalent to 35 each day - despite the subdued nature of the housing market.

One in every 118 homes is now worth £1 million or more, a total of 226,344 - compared with one in 97 when the market peaked in summer 2007. But they tend to be strongly concentrated in the southern half of the country.

In London, the South East and East of England, the percentage of property millionaires grew by double digits throughout 2010. London and the South East account for four in every five (79%) million-pound homes in Britain, with London providing 54% of the total.

The only area outside London making the top 10 was Virginia Water in Surrey (GU25) where 30% of homes are in the million-pound-plus bracket.