Value of privately-owned UK homes now £5.6trillion after figure rose by £1.9trillion in just a decade

• Halifax calculated that the overall worth of privately-owned housing inventory
• It has grown by £1.9 trillion since 2006, to achieve an estimated £5.6 trillion
• The 51 per cent improve is quicker than retail value index measure of inflation 

By Day by day Mail Reporter

Revealed: 20:15 EST, 11 December 2016 | Up to date: 21:01 EST, 11 December 2016

The overall worth of the UK's privately-owned houses has grown to over £5.5 trillion for the primary time, based on estimates.

Utilizing knowledge from a variety of sources, Halifax calculated that the overall worth of privately-owned housing inventory has grown by £1.9 trillion since 2006, to achieve an estimated £5.6 trillion.

The 51 per cent improve within the worth of housing inventory seen over the previous decade is quicker than the retail value index measure of inflation, which has risen by 33 per cent through the interval, Halifax mentioned.

The overall worth of the UK's privately-owned houses has grown to over £5.5 trillion for the primary time, based on estimates

The typical worth per family is £241,682, up from £173,837 in 2006.

The rise within the complete worth of housing inventory has been pushed each by a surge in home costs usually and an increase within the variety of privately-owned houses, Halifax mentioned.

Martin Ellis, a housing economist at Halifax, mentioned: 'The mixed worth of all privately-owned homes within the UK is estimated at £5.6 trillion in 2016 - the very best on report. 

A mix of upper home costs and a rise within the variety of privately-owned houses has seen the worth of housing inventory develop by £1.9 trillion previously decade.

'Total housing fairness held by UK households is in a wholesome state, with complete housing property price over £four.2 trillion greater than the worth of mortgage debt. 

Housing fairness has grown by £1.6 trillion since 2006. For nearly one in three house house owners - who personal their house with no excellent mortgage debt - their monetary place is even stronger.'  

The overall worth of privately-owned housing inventory has grown by £1.9 trillion since 2006, to achieve an estimated £5.6 trillion

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