Halifax: UK housing stock worth trillions
www.moneynews.co.uk > Housing market > Halifax: UK housing stock worth trillions
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Money News |
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Halifax: UK housing stock worth trillions
Mon 14th Jan 2008
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Research from the bank indicated that the value of this stock increased by around nine per cent during 2007, while housing equity has risen by almost £2 trillion over the past ten years and now stands at £2.8 trillion.
The north-south divide was revealed to be present in the value of the housing stock, with assets in the south worth £2.2 billion and those in the north at £1.8 billion.
Martin Ellis, chief economist at Halifax, said that "the household balance sheet" has been strengthened significantly.
"Mortgage debt accounts for only 30 per cent of the value of the UK's £4 trillion worth of housing assets," he added.
The Halifax House Price Index recently indicated that the average price for a home in the UK stands at £197,039.
Related News : Housing market |
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Related News : Halifax |
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