Britain's homes worth over £5 trillion, with Surrey top of the charts

The total of Britain's housing stock adds up to a massive £5.6 trillion, according to new figures from PrimeLocation.com.

It came as no surprise that properties in Surrey were the most valuable, accounting for almost £287 billion, with abodes worth £255,125 per head.

The south of England dominates the property wealth per head column, with Dorset, Buckinghamshire and East Sussex all featuring in the top ten.

In Dorset, the total housing wealth adds up to £83.8 billion, which works out at £207,220 per head, with Buckinghamshire recording respective figures of £98.8 billion and £198,490.

In terms of the UK's total regional housing wealth, the south east laid claim to having £1.6 trillion worth of UK property, with London accounting for £1 trillion.

Scotland is home to £322.1 billion of homes and Wales £223.3 billion.

The north of the UK was among the poorest property regions of the UK. The north east has £162.9 billion of abodes, the north west £253.9 billion and Yorkshire & Humberside £300 billion.

Nigel Lewis, property analyst at PrimeLocation.com, said: "Property wealth per head is driven by one key factor: demand. Homes in and around the capital will always be sought after because of the increased population density in the south and its better employment opportunities."

The figures are something to bear in mind when looking at properties for sale, as there could be more value for money in the north of the country.

These numbers are unlikely to change much over the rest of the year, according to the Halifax, which has just released its monthly house prices.

The cost of UK property went up by 0.5 per cent month-on-month in May, following a 2.3 per cent fall in April.
It means that the average price of a home is now £160,941, said the Halifax.

Martin Ellis, a housing economist at the bank, said: "We expect this situation to continue, with prices likely to still be around today's levels at the end of 2012 as the ongoing tough economic environment constrains housing demand."