Rising house prices have resulted in big growth in the number of millionaires in the UK. 

Last year, it was estimated that one in every 84 people in the country had wealth exceeding £1m; approximately 581,000 individuals in total.

This year, that figure has risen to 625,000 millionaires, or one in 76 Brits.

Perhaps unsurprisingly, most of this wealth is concentrated in London and the South East of England, where nearly half of these millionaires live.

This is largely driven by rising house prices in the region, where high average prices tip a lot of people into the 'millionaire' category.

As Barclays Wealth & Investments rightly comment in this report, the term 'millionaire' is no longer reserved for someone with extreme levels of wealth.

It is still of course a lot of money, but appears to be fairly typical in this part of the world at least.

From a Financial Planning perspective, it's important to consider what being a millionaire actually means for you and achieving your long-term goals, especially if most of your wealth is tied up in property assets.