My Home Saved Sign in For sale To rent House prices New homes News and guides Find agents News and guides Property news Sitting on a gold mine: value of British homes soars by 20% in 5 years By Nicky Burridge 14 October 2021 Nearly 12 million homes have increased in value by £49,000 or more since 2016. How much could your home be worth? Key takeaways The total value of British homes has soared by 20% – £1.6 trillion (tn) – in the past five years The average property has risen in value by £49,257 since 2016 The value of Britain’s homes now totals £9.2tn – four times the UK’s GDP The total value of British homes has soared by 20% in the past five years. That’s a whopping £1.6 trillion (tn), around the same figure as the market cap of Apple – the world’s most valuable company. It means that almost 12 million homes have jumped in value by the national average of £49,000 or more since 2016, according to our latest research. 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. “Understanding the value of your home, and the equity you hold within the property, can help when it comes to making future plans.” What’s happening in your area? Homes in the south east have seen the biggest increase in value over the past five years, collectively rising by £294 billion (bn). By comparison, homes in London saw £214bn added to their value over the same timescale. Even so, London is the most valuable region, with homes in the city collectively worth £2.4tn. It means that although the capital accounts for just 13% of British properties, it is home to a quarter of Britain’s housing wealth. The south east has the second highest value of homes at £1.7tn, followed by the east of England at £1tn. At the other end of the scale, homes in the north east are collectively worth £197bn, while those in Wales are valued at £308bn. 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%. You might also be interested in... Revealed: Britain’s most expensive streets 05 October 2021 UK house prices hit record high 28 September 2021 Is your home's value increasing by more than you earn? 14 April 2018 How much is your home worth? Check our latest estimate and see if it's time to sell. Check My Home Share this article Copy link Tags BuyingHomeowners SellingResearchHouse prices We try to make sure that the information here is accurate at the time of publishing. But the property market moves fast and some information may now be out of date. Zoopla Property Group accepts no responsibility or liability for any decisions you make based on the information provided. Topics Shared ownership Help to buy scheme Buying property guides First-time buyer guides Property features Property news Renting property guides Selling property guides UK area guides Share this article Copy link Recent articles UK lender offers 40-year fixed-rate mortgage 24 November 2021 Rent increases hit 13-year high as demand in major cities doubles 16 November 2021 What's in store for the housing market in 2022? 26 October 2021 How much is my home worth? 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Our website is completely free for you to use but we may receive a commission from some of the companies we link to on the site. *Zoopla Limited is an appointed representative of Uswitch Limited which is authorised and regulated by the Financial Conduct Authority (FRN 312850) to provide this mortgage comparison service. **Uswitch Limited is authorised and regulated by the Financial Conduct Authority (FCA) under firm reference number 312850. ***Based on a search within the London postcode areas (E, EC, N, NW, SE, SW, W, WC) on other UK online property portals. As of 11 Mar 2019.