House Values Record GBP4 trillion in 2007
Published / Last Updated on 13/02/2008
House values hit a record £4 trillion in 2007 according to research by Halifax, based on data from their own house price survey.
The value of the house stock has more than tripled over the past decade from £1.3 trillion in 1997 to £4 trillion in 2007.
Halifax also calculated that the increase in house prices has resulted in overall household wealth more than doubling in the last decade, rising from £3.3 trillion in 1997 to £6.7 trillion in 2007.
Our view
UK house owners have accumulated an extra £2 trillion of values via their house over the past decade.
We should remember though, a house value is only what another is prepared to pay for it.
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