Value of UK’s hous­ing stock at record high

The Courier & Advertiser (Perth and Perthshire Edition) - - NEWS -

The to­tal value of the UK’s hous­ing stock reached a record £7.29 tril­lion in 2018, anal­y­sis has found.

De­spite a slow­down in the hous­ing mar­ket amid Brexit con­cerns, the to­tal value of UK hous­ing stock in­creased by £190.3 bil­lion, real es­tate ad­viser Sav­ills found.

The gains came from out­side Lon­don, as the to­tal value of its res­i­den­tial hous­ing stock recorded a £26.2bn fall – the first de­crease since 2009.

Lon­don’s hous­ing stock is still worth £1.77tn – more than four times the com­bined value of homes in Birm­ing­ham, Manch­ester, Ed­in­burgh, Glas­gow, Cardiff, Bris­tol, Liver­pool, and Sh­effield.

Lon­don still ac­counts for nearly a quar­ter (24.3%) of UK hous­ing value, com­pared with a fifth a decade ago, ac­cord­ing to Sav­ills.

Some £137.7bn of the in­crease in the value of hous­ing stock last year was due to house prices go­ing up – equat­ing to a £4,800 price in­crease per home.

While 72% of the in­crease in the value of hous­ing stock last year came from house price in­creases, the re­main­ing 28% – or £52.6bn – was due to new homes be­ing built.

Newspapers in English

Newspapers from UK

© PressReader. All rights reserved.