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


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