Value of UK housing soars by £1.8 trillion in past decade |  |
New research from Halifax shows that the value of the UK's private housing stock rose by £1.8 trillion (84%) in the decade to 2011. The value of the housing stock at the end of 2011 is estimated at £3.9 trillion, up from £2.1 trillion in 2001.
Martin Ellis, economist at Halifax, comments:
“The value of UK’s housing stock has soared in the decade to 2011 notwithstanding the decline in house prices seen since autumn 2007, rising by 84% to just under £4 trillion at the end of 2011. Whilst outstanding mortgage debt has more than doubled over the last ten years, the value of the housing stock has risen by more in monetary terms. As a result, the total value of housing equity has shown a healthy increase. For most homeowners housing is still very much the main store of private wealth.”
