• STV
  • MySTV

Value of UK private housing stock soars to '£6 trillion'

Worth of privately-owned homes grew by £376bn to reach £6.015 trillion in 2017, Halifax said.

"The value of housing stock has grown by close to £2 trillion in the past decade."
"The value of housing stock has grown by close to £2 trillion in the past decade." PA

The value of Britain's private housing stock has topped £6 trillion for the first time, according to fresh research from Halifax.

In 2017, the value of privately-owned homes has grown by £376 billion to reach £6.015 trillion, the bank said, with the average value per household standing at £256,912, up from £187,310 in 2007.

The report also found huge regional variation in levels of housing equity, with the highest in London, where equity - the difference between the value of the house and the outstanding debt - is an estimated £968 billion, around £360,193 per household.

"The value of housing stock has grown by close to £2 trillion in the past decade and with the equity-rich regions of London and the South East largely responsible, it highlights a considerable regional imbalance in the distribution of housing wealth," Russell Galley, managing director at Halifax, said.

"Within the capital there is also a mix of fortunes. While more than a fifth of total property wealth is in London, lower levels of owner occupation reflect a major barrier to the property ladder with a far greater number of people renting where house prices are at their highest."

Halifax also found huge variations according to age:

  • Some 40% of property wealth belongs to households aged over 65.
  • Around 61% of homeowners over 65 are mortgage-free.
  • Some 24.4% of total housing wealth is held by households in the 55 to 64 age group.
  • Around 47% of people aged 25 to 44 have a mortgage and account for 15.4% of total housing wealth.
  • Just 0.1% net housing wealth is held by people aged 16 to 24.

One account. All of STV.

This field is required. That doesn't look like a valid e-mail format, please check. That e-mail's already in our system. Please try again.
ShowHide
Forgot password?
This field is required. At least 6 characters please. Did you enter your details correctly?
If you've forgotten your details then use the 'Forgot password?' link.
Need to reset your password?

We'll send a link to reset your password to

We've sent you details on how to reset your password

Please check your email and follow the instructions.

Forgotten your email address?

Have you forgotten the email address that you previously joined with? Don't worry, by emailing enquiries@stv.tv we can help.

One account. All of STV.

This field is required. Please enter at least 2 characters
This field is required. Please enter at least 2 characters
At least 6 characters please
ShowHide
This field is required. At least 6 characters please.
You have to be 16 or over to join
This field is required. This doesn't appear to be a valid date
Type your full postcode and select your address This field is required. It doesn't look like you've entered a valid postcode. Can't find your address? Confirm the details you've given us are correct by clicking here

By continuing you agree to our Terms of Use, including our Privacy Policy and Cookie Policy. Any issues contact us.

Upload Profile Picture

Please make sure your image is under 2mb in size and a valid JPG, PNG or GIF.

Are you sure?

Unfortunately, you'll be unable to access our premium content. We’ll be sorry to see you go, but if you change your mind you can rejoin us at any time.

Please verify your STV account

Please verify your STV account using the email we sent you. If you have lost the email, we can send you another one, just click the button below.

Thanks

We've sent you a new verification email.
Please check your email and follow the instructions to verify your account.

Welcome to STV
Thanks for joining us.

Oops!

Sorry, you must be at least 12 years old to place a vote for your Real Hero.

Please review our Voting Terms of Use for more information.

Oops!

Sorry! It seems that you are using a browser that is incompatible with our voting service.

To register your vote please copy the below URL in to your regular mobile browser. We recommend Google Chrome, or Safari.

http://shows.stv.tv/real-heroes/voting

Oops!

Sorry, you seem to have already voted in this category.

Thanks for voting

Now share your vote with friends on your social network

Share on twitter Share on facebook

Cast your vote

Please register or sign in to continue.

Cast your vote

This field is required. This doesn't appear to be a valid date

Cast your vote

Please fill out this form to cast your vote. As you are under 16 years old you will not create an STV account. Why do we need these details?

This field is required. Please enter at least 2 characters
This field is required. Please enter at least 2 characters
This field is required. That doesn't look like a valid e-mail format, please check.
Location This field is required.
Parental Consent This field is required.

That's you. All that's left is to click the 'Submit Vote' button below. By doing so, you confirm that you and your parent or guardian have read and accept our Voting Terms of Use, Privacy Policy and Cookie policy, and that the details you have entered are correct. We'll look after them as carefully as if they were our own.