The gap between property prices in London and the rest of the country is widening and is now nearly double the total of all homes in Northern Ireland, Scotland and Wales, figures from the Halifax show.
Homes in London had a total value of £1.13trn, against £582bn in Northern Ireland, Scotland and Wales. The total value of private housing in the UK exceeded £5trn for the first time.
The Halifax report also shows that the value of housing in the north had increased by 36% over the last 10 years, far below the 66% increase in property prices in the south over the same period. In addition, average net equity for London homeowners totalled £306,000 compared with £94,000 in the north east of England.
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The Guardian, p. 12
