Luxury homes in London cost "double" those in New York, new research has suggested - meaning super-wealthy Britons are increasingly going bargain hunting in Big Apple.

The Transatlantic Wealth Report, by upmarket British estate agent Beauchamp Estates and New York equivalent Leslie J Garfield, found the value of luxury homes in London's most exclusive areas is typically twice as high as their equivalents in Manhattan on a per square foot basis.

The research showed a large family home in Knightsbridge averages £2,194 per sq ft, compared with £1,196 per sq ft in its Manhattan equivalent, the Upper East Side.

In Belgravia, the average family home is £2,031 per sq ft, compared with £826 per sq ft on the Upper West Side. 

In the two cities' financial districts, the contrast is stark: in the City of London, residential property will set you back £1,263 per sq ft, compared with £735 per sq ft in Midtown, Manhattan. 

And it turns out even the super-rich like to bag a bargain. New York's lower prices have triggered a seven per cent rise in the number of London-based high-net worth individuals going house hunting in the city, the report suggested.

You can see why wealthy Londoners are attracted to New York: it has 76 Michelin-starred restaurants, compared with London's paltry 65. Although our capital boasts more museums (173 vs 131) and art galleries (857 vs 721).

With 8.6 million residents, London may have a slightly higher population than Manhattan's 8.49 million - but it also has a lower population density, with 131 residents per hectare, compared with Manhattan's 188. Take that, New Yorkers.