Value of UK residential property soars by £1.8 trillion in past decade

Value of UK residential property soars by £1.8 trillion in past decade

The value of the UK’s private housing stock rose by £1.8 trillion, some 84%, in the decade to 2011, according to new research from the Halifax.

The value of the housing stock at the end of 2011 is estimated at £3.9 trillion, up from £2.1 trillion in 2001. The increase of £1.8 trillion over the decade is equivalent to £68,500 per household in the owner occupied and private rented sectors in the UK. The value of the UK private residential housing stock has grown at more than twice the rate of increase in overall consumer prices, with the retail price index up by 38% over the past ten years the research also reveals.