Salcombe, the resort known as Chelsea-on-Sea, is a top-ten millionaire town It's quite a small place and they don't come up for sale that often. It's like London in the sense that you have a limited number of homes competed for by a large number of wealthy people. Any property that comes up in Salcombe has five or six people bidding for it and they will all pay top dollar. If you are wealthy it's the most fashionable place to have a second home. It is the south west's most beautiful port. The Salcombe Information Centre, which promotes tourism in the area, boasts of the town's attractive coastal scenery and beaches. Highest ranking in the survey was Virginia Water with just under half of its homes worth £1million or more, followed by Radlett with 47 per cent and Cobham with 39.5 per cent. Mr Lewis added: "There are a number of factors that have led these UK towns to become millionaire hotspots. Most of these areas are home to a high proportion of spacious and luxurious set in a peaceful and exclusive environment, within easy commuter distance of London, but this sought-after combination comes with a hefty price tag. Not only is Virginia Water a commuter town offering easy access to the capital, it's also home to the famous Wentworth Estate, which encompasses one of Europe's premier residential areas. With a significant proportion of the housing stock being large detached properties, the price of which averages £1,210,326, this affluent area has overtaken Beaconsfield as the UK's hottest £1million-pus location. He added the property prices in Virginia Water were mirrored by the rental market, where asking prices were often as much as £15,000. The other town to make the list were Chalfont St Giles in fourth with 36.4 per cent, Beaconsfield with 35.8 per cent, Harpenden with 35.7 per cent, Esher with 35.4 per cent, Ascot with 29.4 per cent and Gerrards Cross, 28.3 per cent. Across the UK, the average proportion of homes worth more than £1million is 3.1 per cent, making one in every 32 properties in the UK a £1milion home.