Uk Homes Worth A Total Of £5.6 Trillion

Posted on: 7 June 2012

The total property wealth of the UK stands at £5.6 trillion, PrimeLocation.com has calculated.

The wealthiest county for property is Surrey where homes are worth £288 billion, or 5.1% of the UK’s overall property wealth. Surrey also has the most property wealth per head at £255,125 each with its nearest rival Dorset some way behind at £207,220.

Buckinghamshire is third at £198,490 and East Sussex fourth at £196,300. The top 10 list of counties by property wealth per-head is dominated by the South of England. Warwickshire in the West Midlands comes tenth, with individual property wealth of £145,431 and North Yorkshire comes fifteenth with £126,967 per head.

Regional level

The South East holds the greatest property wealth on a regional level, accounting for nearly a third (30%) of the UK’s total property wealth.

Its homes are worth £1.65 trillion - Buckinghamshire, East Sussex, Hampshire and Kent all featuring in the top 10 counties by property wealth per head. London comes in second with just over £1 trillion, while the South West completes the top three with property wealth of £488 billion.

Nigel Lewis, property analyst at PrimeLocation.com says: “Property wealth per head is driven by one key factor: demand. Homes in and around the Capital will always be sought-after because of the increased population density in the South and its better employment opportunities.”

David Sansome, Managing Director at Sansome & George said: “These reports are always headline grabbing and interesting. Crucially however they show the huge wealth that exists in the equity held by many homeowners.

At a time when mortgage interest rates are at historically low levels this provides many opportunities for buy to let investors to utilise “dormant equity” to help expand portfolios and for families to assist young adults on getting on the “housing ladder”.

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