Privately-owned home value grows over £5.5tn for first time
A 51% increase in value of housing stock seen over past decade faster than RPI measure of inflation.
The total value of the UK's privately-owned homes has grown to over £5.5 trillion for the first time, according to estimates.
Halifax calculated that the total value of privately-owned housing stock has risen by £1.9 trillion since 2006 to reach an estimated £5.6 trillion.
The 51% increase in a decade is faster than the retail price index measure of inflation, which has risen by 33% in the same period, Halifax said.
The average value per household is £241,682, up from £173,837 in 2006.
The increase has been driven by a surge in house prices and the rise in the number of privately-owned homes, Halifax said.