Stock for private housing value in the UK through August this year has reached a projected £5.1 trillion, realising a rise of 53 percent over the last ten years.
This projected figure realises an increase of £1.8 trillion since 2005, an equivalent of £76,316 per household as far as the owner occupied and private rented sectors are concerned. This now means that the value of the UK private residential housing stock has developed at a quicker rate than consumer prices are, with the retail price index (RPI) increasing by 35 percent in the past ten years.
Over the course of the past year, the worth of private housing stock developed by £262 billion, predominantly reflecting average house price growth of 4 percent in the year to August, a study from the Halifax has found.
Country-wide, there is a varied difference in the level of housing equity, with a higher balance in the south when compared with northern areas.
The research also shows that there has been a healthy rise in the value of the private housing stock across all regions, with the South West seeing a 36 percent increase.
If you are looking to buy a house in the south Howes Estates can help, with our property for sale in Crediton and other popular mid-Devon locations. Why not contact us today to see what we can do for you?
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