Twitter Facebook RSS FEEDS

British homes worth £3.8 trillion

Monday, 15 January 2007 12:00 AM

British homes are worth a collective £3.8 trillion, up 78 per cent since 2001, new research reveals.

Halifax's analysis of the country's private housing stock finds homes in Northern Ireland have experienced the biggest rise in value, going up 165 per cent over five years.

Housing stock in the north experienced the second sharpest rise, up 130 per cent from 2001 to 2006, with the research also showing the proportion of housing stock in the north compared with the south has also been growing.

Housing stock in the south represented 55 per cent of the UK's total housing assets in 2006, compared with 62 per cent in 2001.

Northern cities in England have also experienced the some of the largest growth in value over the last five years, representing seven of the top ten cities with the fastest growth.

Lincoln (up 173 per cent), Kingston upon Hull (up 161 per cent) and Salford (up 140 per cent) were the fastest risers, Halifax finds.

However, London accounts for 35 per cent of the value of total UK housing stock (£1.3 trillion), making up almost half of the value of total housing stock in cities.

Following London, Birmingham (£41 billion), Leeds (£35 billion), Edinburgh (£33 billion) and Manchester (£32 billion) have the most valuable private housing stocks.

"The UK's household balance sheet is in good shape. Total housing assets are now worth 3.5 times the overall level of housing debt. Ten years ago, 2.9 times was the equivalent figure," commented Tim Crawford, Halifax group economist.

Figures from Halifax show private housing in Britain rose over £400 billion in 2006, up 12 per cent.

Related stories

Terrace of red brick homes in London

3.5m homes worth less than when they were bought

Of the properties bought over the last five years, 3.5 million are worth less now - though regional variations exist.

 UK property worth £5.8 trillion

UK property worth £5.8 trillion

UK property worth £5.8 trillion
Adult kids get parents to fund £12 billion of help with mortgage, rent and home improvements. Image: Thinkstock

Bank of Mum and Dad worth £34 billion to their kids

Adult kids get parents to fund £12 billion of help with mortgage, rent and home improvements.

 Housing stock worth £4 trillion

Housing stock worth £4 trillion

Housing stock worth £4 trillion
George Clarke attended this year's Conservative Party conference to lobby ministers on empty homes.

Great British Property Scandal empty homes campaign hits 100k

George Clarke's Great British Property Scandal empty homes petition has hit 100,000 signatures, potentially triggering a parliamentary debate.

 Parents are increasingly put upon by their children's financial needs. Image:Thinkstock

Bank of Mum and Dad now worth £39,000

Parents prepared to dig deep to help their children on to the property ladder, says PrimeLocation.com.
Senior citizens celebrating with a high five

Retired homeowners' houses worth £752 billion

The over-65s have a combined property wealth of up to £752.1 billion despite ongoing housing market volatility.

 Grant Shapps says that the self-build industry is riding the crest of a wave. Image:Thinkstock

Kevin McCloud boosts drive toward British self-build

Grant Designs presenter joins delegation to Dutch city to see biggest example in Europe of people building their own homes.
Falling prices and high moving costs leave people who bought their first home in 2007 £11,000 short of being able to move. Image: Thinkstock

Would-be second-time buyers trapped in their homes

Falling prices and high moving costs leave people who bought their first home in 2007 £11,000 short of being able to move, says HSBC

 RIBA says property buyers are denied space in cramped new build homes. Image: Thinkstock

Architects attack ‘shoe box’ new homes

RIBA says property buyers are denied space in cramped new build homes.

Search property

Headlines

Directory

Alaris

Alaris Logo
Alaris specialise in quality Bathrooms and Kitchens along with many other unique products for your home. The range of kitchens, kitchen worktops and bathrooms is extensive and the highest quality so you are sure to find what you want. New bathroom furniture, bathroom suites, taps, showers and cabinets are added regularly.

Bathrooms365

Bathrooms365 Logo
Bathroom365 supply all areas of your new bathroom - leading-edge designed bathroom suites, stylish bathroom taps and showers, all styles and forms of shower enclosures and a vast collection of bathroom furniture.

Fitmykitchen

Fitmykitchen Logo
Fitmykitchen are specialist suppliers of kitchen appliances, sink taps, waste bins and furniture. So whatever you want from kitchen sink taps to waste bins look no further than fitmykitchen, UK, the specialist suppliers of kitchen appliances, stainless steel sink taps, waste bins and kitchen furniture.

MyStampDuty

MyStampDuty Logo
We help people buying property all over the UK to minimise Stamp Duty Land Tax on residential and commercial property. If you are looking at purchasing a new home or business premises over £500,000, contact us today by completing the form on the right

Oak Furniture Land

Oak Furniture Land Logo
For hardwood furniture, including Solid Oak, Mango, Mahogany, Sheesham, Acacia, Ash and Birch, look no further than Oak Furniture Land.

Rated People

Rated People Logo
Whatever type of home improvement or garden remodelling project you have, Rated People can help you to identify the right tradesmen for the job in a way that is quick, easy, convenient and, as it is based on real-life recommendations, trustworthy.

Residential Land

Residential Land Logo
If you are looking for short or long term rentals in Central London, Residential Land have a portfolio of over 1200 flats and houses in the best postcodes across the Capital.

Simply Bedrooms

Simply Bedrooms Logo
Simply Bedrooms, a part of Sleepwell Bedrooms Ltd, supplying quality beds, wardrobes, sliding door wardrobes and bedroom furniture at low prices and great service, London and Home Counties Specialists.

Door Handles UK

Door Handles UK Logo
Door Handles UK is the UK's largest online range of Door Handle accessories, Door Hinges, Locks and Latches and so much more and all at genuine internet prices. We have a wide range of Chrome, Brass and Glass Crystal Mortice door knobs in both traditional and contemporary designs, whatever your taste and budget you will find a design to suit.

Woodlands Furniture

Woodlands Furniture Logo
We are an established family business situated in rural Herefordshire specialising in beautiful handcrafted classic reproduction furniture. Our comprehensive ranges are readily available from stock.

WowBBQ

WowBBQ Logo
Welcome to the World of Weber. We are the largest independent online Weber BBQ retailer in the United Kingdom. WOWbbq.co.uk is a Weber Partner Store and can give you the best advice for all your Weber BBQ needs.

Join our directory aboutproperty.co.uk

Twitter

Join the conversation at #aboutproperty

Directory articles

A guide to finding the right kitchen sink

When redesigning a kitchen or giving the room a makeover, it is important not to forget about the less obvious aspects of the space. Kitchen sinks are an essential fitting, but often overlooked, despite the fact there is a wide choice of styles available.

Useful tips to help find a flat in London

Looking for flats in London can be a frustrating process, given the capital's size, demand for rental accommodation and varying prices. It is vital, therefore, that you do plenty of research and act quickly to ensure you get the place that you want.

What do you need to consider when buying a mattress?

If you looking for a new mattress, you need to get the decision right, as getting it wrong could impact on your overall health and wellbeing. As well as comfort and size, you also need to consider other points, such as any health issues you may have.