Private housing values soar

13th November 2015

The value of Britain's stock of private housing has jumped by an average of £76,316 per household over the past ten years as prices have soared. Altogether, it surged by 53% over the period to hit £5.1tn this summer, according to the Halifax. London led the way, with values more than doubling from £552bn to £1.1trn over the decade, further exacerbating the North-South divide. The value of housing in the north has increased by 36%, compared with 66% in the south during the past ten years. As a result, the south's share of UK housing assets rose from 56% in 2005 to 61% in 2015. The value of mortgage debt also has grown, rising by 35% from £942bn to £1.28tn, although the value of the private housing stock has grown by more than five times as much as outstanding mortgage debt. 

The Times (11/11/2015)