Housing Crisis? - What Housing Crisis

aboutproperty.co.uk reports that UK Property worth £5.8 Trillion. Zoopla.co.uk says that the value is depreciating with UK property worth £300 billion less than last September when it was worth £6.1 trillion. England accounts for 89.4 per cent of the UK's residential property value with Scotland;s value at 6.9 per cent or £401 billion and Wales accounting for 3.7 per cent or a housing stock of £219 billion.

"Despite the recent market downturn, it is clear that the British property market remains one of the most valuable in the world on a per capita basis," said Alex Chesterman, chief executive of Zoopla.co.uk

In terms of individual cities London is unsurprisingly the highest valued at £776 billion, or 13.3 per cent of Britain's Gross Housing Product (GHP). Only four other cities can account for over one per cent of the combined residential property values. They are Bristol (£76.2 billion), Glasgow (£75.2 billion), Birmingham (£67.9 billion) and Manchester (£64.2 billion).


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