Tuesday, November 01, 2005
UK House Price Bubble - Britons owe almost as much as Asia, Africa and South America combined
According to figures in The Guardian, 31 October 2005:
In 2004 the total value of private homes accounted for 55% of the UK's entire wealth.
In August 2005, UK consumer debt totalled - £1,122 billion - 83% of which was mortgage on homes.
Combined mortgage lendings in the UK, August 2005 - £932 billion.
Combined external debt of Asia, Africa and South America, 2005 - £1,000 billion (est)
UK average house prices:
1965 - £3,660
1975 - £11,396
1985 - £34,916
1995 - £69,889
2005 - £170,000 est
~~
In 2004 the total value of private homes accounted for 55% of the UK's entire wealth.
In August 2005, UK consumer debt totalled - £1,122 billion - 83% of which was mortgage on homes.
Combined mortgage lendings in the UK, August 2005 - £932 billion.
Combined external debt of Asia, Africa and South America, 2005 - £1,000 billion (est)
UK average house prices:
1965 - £3,660
1975 - £11,396
1985 - £34,916
1995 - £69,889
2005 - £170,000 est
~~
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