New research reveals which major UK cities are home to the most valuable property markets based on the cumulative value of the building stock in the current market landscape.
Data was analyzed on the value of each city based on the total number of properties there and the current average price of a house, to reveal the total value of each city’s brick and mortar portfolio.
While London lags behind the rest of the UK on pandemic house price appreciation, the capital remains, unsurprisingly, by far the UK’s most valuable city.
With a whopping 3.6 million houses found in the capital, it is not only home to the largest real estate market, but it remains the most expensive, with the average house now costing £ 516,000.
As a result, the total London property market is currently worth £ 1.9 trillion.
The UK’s ‘second city’, Birmingham, is also the second largest in the real estate market.
With an average house price of £ 209,000 and 445,000 total homes, Birmingham is home to a total housing market value of £ 93 billion.
The Scottish capital, Edinburgh, ranks third with a total building stock value of £ 79bn, followed by Leeds (£ 76.5bn), Bristol (£ 63bn), Bournemouth (58.5bn) billion pounds), Glasgow (51 billion pounds), Sheffield (49 billion pounds). ), Manchester (£ 49 billion) and Liverpool (£ 39.5 billion).
On the other end of the scale, Newport has a total building stock value of just £ 14.5bn, followed by Aberdeen (£ 17.5bn), Sunderland (£ 17.5bn). British pounds), Swansea (20 billion pounds) and Portsmouth (20 billion pounds).
Michael Bruce, CEO and founder of the real estate platform in charge of research, Boom, says:
“London’s position as the UK’s premier city is unlikely to be challenged anytime soon.
Such is the scale and value of the capital’s real estate market, it would take something quite extraordinary to dethrone it.
Birmingham has also firmly established itself as our true second city, at least when it comes to the sheer volume of building stock.
The city has also benefited from a significant level of regeneration and investment and it is likely that house prices will continue to climb over the next several years which will further increase the total value of the Birmingham property market.
While much has been said about the exodus of urban home buyers to greener pastures in the event of a pandemic, our large cities continue to be the lifeblood of the real estate market and their size and value will only continue to grow. strengthen, as our population grows and as the next generation of home buyers enter the market.
|City location||Total housing stock (by 2020 at the latest)||AveHP – October 2021 (last)||Estimated Total Value £|
|London||3,634,497||£ 516,285||£ 1,876,438,041,279|
|Birmingham||445,276||£ 209,245||£ 93,171,866,699|
|Edinburgh||248,314||£ 319,160||£ 79,251,884,172|
|Leeds||353 857||£ 216,280||£ 76,532,071,153|
|Bristol||201 940||£ 311,462||£ 62,896,643,913|
|Bornemouth||185,462||£ 315,049||£ 58,429,595,698|
|Glasgow||309,870||£ 164,483||£ 50,968,207,211|
|Sheffield||251 887||£ 194,325||£ 48,947,931,124|
|Manchester||231,000||£ 211,773||£ 48,919,459,304|
|Liverpool||231,504||£ 171,221||£ 39,638,261,028|
|Cardiff||153,365||£ 242,982||£ 37,264,949,460|
|Bradford||217,370||£ 164,807||£ 35,824,087,330|
|Leicester||138,196||£ 210,890||£ 29,144 130,587|
|Nottingham||140,477||£ 175,908||£ 24,711,041,363|
|Plymouth||120,243||£ 204,630||£ 24,605,363,195|
|Southampton||108,556||£ 222,134||£ 24,113,981,533|
|Belfast||159,869||£ 150,267||£ 24,023,103,431|
|Newcastle||133,057||£ 178,220||£ 23,713,491,869|
|Portsmouth||90 945||£ 224,185||£ 20 388 493 784|
|Swansea||112,072||£ 177,393||£ 19,880,819,105|
|Sunderland||129,353||£ 136,439||£ 17,648,757,800|
|Aberdeen||117,476||£ 148,708||£ 17,469,610,188|
|Newport||68,584||£ 212,365||£ 14,564,874,636|