London lion's share of UK's £5.5trn property wealth

London lion's share of UK's £5.5trn property wealth

A Hometrack study of all 27m residential addresses in the UK, including social and private housing, suggests property values in the capital are worth 10 times more than Birmingham, the UK's next biggest city.

Proximity to London plays a key role, with Reading, which would barely make it into the top 20 in Britain by population, ranked seventh by value. The total price of property in the town, at £50.3bn, is higher than Newcastle, Edinburgh, Belfast and Liverpool, and is only just below Bristol and Leeds.
The predictable north-south divide remains, however, other anomalies remain, including the fact property in York is worth more than Cambridge and property values in Huddersfield outstrip Oxford.
However, London is worth the same as the next 40 biggest British cities and towns combined.