Sitting on a gold mine: value of British homes soars by 20% in 5 years

Sitting on a gold mine: value of British homes soars by 20% in 5 years

The total value of homes in Britain now stands at a staggering £9.2tn. 

To put this eye-watering figure into perspective, it’s more than four times the GDP of the UK  – the value of all goods produced and services provided each year.

And it’s more than four times the value of all the companies listed on the FTSE 100.

Curious to see what your home is worth? Use our My Home experience to get an instant estimate.

What’s behind this?

House price growth since 2016 has been underpinned by ultra-low mortgage rates.

And in the past 18 months, the pandemic has driven increased buyer demand as people reassess what they want from a home.

But this demand has been met by only a limited supply of homes for sale, fuelling house price growth.

What could this mean for you?

The steep increase in house prices means your home could be worth more than you think.

Use our My Home experience to get an instant estimate of your property’s value.

If you are thinking of moving, you may have more money for your next purchase than you realised.

Even if you plan to stay put, you could qualify for a cheaper mortgage, as you will be borrowing a lower proportion of its value.

Where have homes risen in value the most?

More than two-thirds of homes in 53 of the country’s 367 local authority areas have risen by more than £49,000 since 2016.

Monmouthshire tops the list, with 88% of homes increasing by more than the national average.

It's followed by Hastings at 83% and Trafford at 82%.