New research by one of the world’s largest real estate firms shows that the total value of UK homes now stands at £5.75 trillion, having grown by £543 billion in one year alone, and £966 billion over the last five years. All areas of the UK saw total value growth over the last five years, except for Northern Ireland, the North-East, and the North-West.
The total stock in the private rented sector has surpassed the £1 trillion mark. Buy-to-let investors saw the value of their assets grow by 17% in 2014, and by 57% in the last five years. Since 2009, the total number of homes in the private rented sector has risen by almost 1.2 million, bringing the total to over 5.4 million, compared to 4.7 million in the social rented sector.
The total value of owner-occupied stock reached £3.9 trillion in 2014, split fairly evenly between outright ownership and those subject to a mortgage. Owner-occupied homes remain the dominant tenure, accounting for nearly 15 million households.The number of homes owned without a mortgage rose by over 400,000 in the last five years. By contrast, homes owned with a mortgage fell by almost 800,000 in the same period.