Radlett is second only to Virginia Water in Surrey for property millionaires, according to a nationwide survey.

Property website primelocation.com has found that 47 per cent of the Hertfordshire village’s homes are valued at one million pounds or more.

The village, home to Arsenal footballer Alex Song among others, was narrowly beaten by Virginia Water which has 48.5 per cent of its houses valued in seven figures.

By comparison, across the UK as a whole, the average proportion of homes worth over £1 million is 3.1 per cent.

The results mark a significant shift from 2011 when Beaconsfield was top with 47 per cent and Radlett came in fourth at 37 per cent.

Nigel Lewis, property analyst at primelocation.com, said: "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 properties set in a peaceful and exclusive environment, within easy commuting distance of London, but this sought-after combination comes with a hefty price tag."