UK house value boom: See how much your home could now be worth
British homes have increased in value by £50,000 on average in the past five years
Last updated 14th Oct 2021
Homes across the UK have risen in value by £49,257 over the past five years on average, according to property website Zoopla.
The site, which recently released figures showing the most expensive streets in the UK, reported that the total value of homes has risen by 20% in five years.
That's a collective increase of £1.6 trillion, with more than a third (£550 billion) of the value increase coming in the past year alone.
Where in the UK has the highest total value of homes?
Homes in the 13 square mile radius of Westminster, Kensington and Chelsea are collectively valued at £306 billion, which is roughly the same for the whole of Wales, with all of the country's homes costing £308 billion in total.
The total housing value in London reached £2.4 trillion this year, which makes the capital the area with the highest total value of housing in the UK.
The North East is the region with the lowest collective value of houses, with homes in the area totalling £197.2 billion.
See how the total value of houses per region from July 2021 below:
- London, £2.4 trillion
- South East, 1.7 trillion
- Eastern England, £1.0 trillion
- South West, £877 billion
- North West, £713.2 billion
- West Midlands, £610.7 billion
- Yorkshire and the Humber, £505.7 billion
- East Midlands, £500.8 billion
- Scotland, £462.6 billion
- Wales, £308.3 billion
- North East, £197.2 billion
How much is my home worth?
The total value of homes across Britain is reported to be £9.2 trillion, with the vast majority being attributed to privately-owned homes and £1 trillion held within social housing.
There are a number of reasons as to why the average house value has increased, with low mortgage rates and keeping monthly repayments mostly affordable being two factors.
The pandemic has also encouraged people to move home due to lifestyle changes.
See if the value of your property has increased in recent years.
Where are the most expensive streets in the UK?
Kensington Palace Gardens, London W8
The average price for property in Kensington Palace Gardens stood at £32,445,602 in October 2021.
Courtenay Avenue, London N6
The average price for property in Courtenay Avenue stood at £20,510,200 in October 2021.
Grosvenor Crescent, London SW1X
The average price for property in Grosvenor Crescent stood at £17,948,593 in October 2021.
Ilchester Place, London W14
The average price for property in Ilchester Place stood at £15,831,687 in October 2021.
The Boltons, London SW10
The average price for property in The Boltons stood at £14,890,544 in October 2021.
Frognal Way, London NW3
The average price for property in Frognal Way stood at £11,843,238 in October 2021.
Manresa Road, London SW3
The average price for property in Manresa Road stood at £11,528,637 in October 2021.
Compton Avenue, London N6
The average price for property in Compton Avenue stood at £10,862,536 in October 2021.
Cottesmore Gardens, London W8
The average price for property in Cottesmore Gardens stood at £10,806,122 in October 2021.
Albemarle Street, London W1S
The average price for property in Albemarle Street stood at £10,529,739 in October 2021.
Where are the most expensive streets in Scotland?
Where are the most expensive streets in Wales?
Llys Helyg Drive
Llys Helyg Drive (Left) in Llandudno is Wales' highest valued street.
Ty-Gwyn Avenue
Ty-Gwyn Avenue in Cardiff is the third-most expensive street in the country.
Cleddon
Cleddon in Monmouth is home to the street with the fifth-most expensive houses.
The Mount
The Mount in Cardiff is Wales' sixth-most valued street.
Marine Drive
Marine Drive, which is right next to Llys Helyg Drive, means Llandudno is home to the country's highest and seventh-highest valued street in Wales.