UK homes are now worth £5.7 trillion

Now here’s a stat to make you choke on your coffee…

The total value of UK homes is now £5.75 trillion, according to research by Savills.

The figure is up by £543bn in the last year and £966bn in five years.

The estate agent found that London and the South East accounted for £2.5 trillion of the total value of homes across the UK.

The total value of housing stock in London, where average values per property stand at £428,988, is now £1.485 trillion, an increase of 20% or £247bn in one year and 61% in the past five years.

According to the research, owner-occupied homes accounted for almost 15 million households.

In the past five years, the number of homes owned without a mortgage rose 437,471 to over 8.3 million, with values rising £325bn to almost £2 trillion.

UK house prices: Total value of UK residential property hits £5.8tn

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