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Telegraph: Home Values Treble In The Last 10 Years.

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'Home values treble in the last 10 years':


The value of Britain's homes has more than trebled in the past 10 years, from £1.1 trillion in 1995 to £3.4 trillion in 2005.

Property in Northern Ireland has increased the most in percentage terms, up 271 per cent in the decade. Greater London houses have increased in value by 266 per cent, and property in the South-West by 229 per cent.

Halifax, which carried out the research, said that the figures showed that Britain's household balance sheet was in good shape, because the value of the private housing stock was more than three and a half times the value of the outstanding mortgage debt.

Tim Crawford, Group Economist at Halifax, said that housing wealth was still concentrated in the south of England, which has more than half Britain's housing assets.

Researchers at the think tank at the Institute of Public Policy Research said, however, that the trebling of housing wealth was not good news for everyone.

"House price increases do not create wealth, they just redistribute it," Dominic Maxwell, IPPR research fellow, said. "The bottom 50 per cent of the population own just seven per cent of the wealth."

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?

      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%

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