London's residential property is worth 35% of the value of all the homes in Britain, according to estate agents Stirling Ackroyd. They calculate that London homes are worth over £1.5 trillion and they expect that figure to reach £2.1 trillion over the next three years. To show the disparity between London and other parts of the UK, they worked out that the homes in Hackney, Tower Hamlets and Southwark are worth more than all the homes in Wales.
London's house prices have shot up sharply over the last three decades - in 1987, the total value of homes in the capital was just £273 billion. And while national prices have stalled since the start of the financial crisis in 2008, the value of homes in the capital has doubled.