The Office of National Statistics has reported that the value of UK housing is now £3,575 billion. This figure represents 59% of the nation's total wealth, and is up 4% on the year before. As many economic observers have already commented, housing's rise has led to a huge increase in personal wellbeing. The downside is that a small rise in interest rates could have a major impact on overall economic activity.
To read the Financial Times take on the subject click on the post title.
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