UK hous­ing hits £7.3trn

Daily Mail - - News -

THE value of the UK’s hous­ing stock reached a record £7.29tril­lion in 2018, a study re­vealed. De­spite a slow­down in the mar­ket amid Brexit con­cerns, the to­tal value rose by £190.3bil­lion, real es­tate ad­viser Sav­ills found.

Gains came from out­side Lon­don as the value of res­i­den­tial hous­ing stock recorded a £26.2bil­lion fall – the first since 2009. Some £137.7bil­lion of the to­tal UK in­crease was due to house prices ris­ing by £4,800 per home.

The re­main­ing £52.6bil­lion was due to new homes be­ing built. In per­cent­age terms, Wales had the big­gest gains, with a 6.3 per cent rise adding £13.4bil­lion. The East Mid­lands (6.2 per cent) and West Mid­lands (6.1 per cent) fol­lowed closely be­hind. In cash terms, the South East saw the big­gest rise, with £29.9bil­lion added on the back of 2.2 per cent growth.

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