Released on: January 21, 2008, 11:25 pm

Press Release Author: Webmaster

Industry: Real Estate

Press Release Summary: Property related news

Press Release Body: LATEST PROPERTY NEWS

All news items supplied by SelectNews, produced by PA Business, part of the group
that owns The Press Association, the UK\'s national news agency. Copyright (c) PA
Business 2007.

14 Jan 08 - Values In Northern Ireland Rocket

The value of homes in Northern Ireland has risen by more than 400% during the last
10 years, new figures show.

The province heads a Halifax league table of UK housing stock, with Wales second
after experiencing a 223% rise, followed by the South West with a 222% increase.

The data emerged as Britain\'s biggest mortgage lender said the value of homes across
the UK has broken through the £4 trillion mark for the first time.

It comes after housing stock rose by 9% during 2007, and 208% over the past decade.
Housing equity, which measures values minus outstanding mortgage debt, has also
increased since 1997, from £870bn to £2.8 trillion.

Martin Ellis, Halifax chief economist, said: \"UK home owners have collectively
accumulated an extra £2 trillion of equity in their homes over the past decade as
property prices have risen.

\"This has significantly strengthened the household balance sheet. Mortgage debt
accounts for only 30% of the value of the UK\'s £4 trillion worth of housing assets.\"


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