UK property assets double in value

Permalink: UK property assets double in value
by Gill Montia

Purchasing the UK would set you back £6,525 billion, £3,696 billion of which is property owned by households and non-profit organisations.

The overall cost includes the value of all buildings, companies, shares and other assets net of liabilities, up 5.3%, or £326 billion, on the last year’s figures.

According to figures from the Office for National Statistics (ONS), property assets have more than doubled in value from £1,420 billion over the last decade, exceeding average growth for other asset categories. The ONS figures published on 1st August traced the value of all UK assets back 20 years, illustrating that their price tag has quadrupled from around £1,700 billion over that
period.

However, there are indications that this rate of increase could be at an end. Rightmove’s house price index has shown that the average asking price increased just 0.3% in July, the lowest monthly rise of 2007, while the annual rate fell from 13.2% to 10.3%.