Almost 100,000 homes have been added to the £1m-plus bracket since the start of the pandemic.
Research by TwentyCi showed that of the estimated 770,000 homes valued at more than £1m, 98,931 have crossed that line since March 2020.
Last week, the ONS said that the average house price had risen by 13.2% in the year to June to £266,000.
But the desire for people to head out of cities towards leafier parts has pushed prices higher in some areas.
Those living in the South East and South West have seen the average value of their homes rise by up to 14%, pushing many past £1m.
