Skip to main content
  • Sign in


20th July 2022

  • Value of all UK homes combined surpasses the £10 trillion mark for the first time (£10.1 - based on value of the UKs 29.5m homes in April 2022)

  • 15% increase in value of £1.3 trillion over the pandemic* 

  • Average UK home has risen £48 per day* 

  • A third (32%) or 9.4m homes have increased in value by more than £50,000

  • Londoners have seen their homes grow the least  in value as the impetus for gains shifts northwards


21st July 2022: New research out today from Zoopla reveals the total value of the UK homes has surged to over £10 trillion this year as strong demand and a lack of supply continues to drive house prices higher.

With the **average UK household income £34,100, some properties are making more than their owners salaries as the total value of homes has increased by £1.3 trillion, netting the average homeowner £48 per day in capital gains since the start of the pandemic. 

One in three homes increase by more than £50,000

The Value of Housing Report takes into account the change in value of every home in the UK. Using Zoopla’s valuation estimate, it monitors the rise and fall of prices with data revealing that 9.4m homes (32% of all homes) have grown in value by more than £50,000.  

Homeowners gained the most within affordable regions

Throughout the UK, Wales has seen the greatest increase in value (+22%) followed by the North West and South West (both 20%). In London however, the increase is just 7%, less than half the national average as affordability factors and the impact of the pandemic and working from home dented the demand for homes, especially in high value inner areas of London and the market for apartments..   

The greatest value of homes are located in London and the South East which account for 23.5% of all the value, of all homes but weaker growth means the share of housing wealth has fallen from 26% pre-pandemic.


Table 1 - Value of housing by country and region April 2022 and February 2020

Country/                    English region

Value of housing today £bn                             (Apr 2022)

Value of housing pre-pandemic £bn (Feb-2020)

% change in value    over pandemic 2020-2022

Average property    value

(Apr 22)






South East










South West





North West





West Midlands





East Midlands





Yorks. and Humber















North East





Northern Ireland










Source: Zoopla


Higher average prices explain why over a fifth of these homes are located in London and the South East. However, the South West region contains 1.9m homes that grew by more than £50,000, the most for any area.  A further 9.4m homes grew by between £25,000 and £50,000 (see table 2) 

Table 2 - Number of homes by price increase from pre pandemic (Feb-2020) to April 2022

Price change - Feb 2020 to April 2022

Number of homes (millions)

% homes

Unchanged or lower



Higher by up to £25k



Higher - £25k to £50k



Higher - £50k to £75k



Higher - £75k to £100k



Higher - over £100k



Source: Zoopla


Not everyone has seen gains during this period with the value of 1.6m homes (5.7%) currently the same or lower than pre-pandemic. Half of these homes (0.8m) have seen a value decline of 5 per cent or more with most concentrated in inner London where the impact of the pandemic has hit travel, working patterns and demand for homes.

Zoopla’s analysis reveals 28% of the homes declining by more than 5% were in London - of which half were in the central London boroughs of Westminster, Kensington & Chelsea, Islington, Hammersmith & Fulham, Tower Hamlets and Southwark. Aberdeen and Aberdeenshire, where the economy suffers from  the historic decline in oil prices accounted for a further 6% of homes declining in value.  


Commenting on Zoopla latest Value of UK Housing report, Richard Donnell, Executive Director at Zoopla says, “The boom in demand for homes created by the pandemic has pushed the value of homes higher. The gains over the last year are the largest since 2006 but they are far from uniform 

Every homeowner experiences the impact of the market through the changing value of their own property. Rising home values unlock new opportunities for homeowners considering their next move. An exodus of older workers from the labour market over the pandemic, together with more working from home, is driving more households to look further afield for their next home to get greater value for money.

Not everyone has seen home values increase. Affordability is holding back prices in London and southern England and our analysis reveals the centre of gravity of the housing market is shifting northwards. The largest gains in value are being seen in more affordable areas where there is further room for price growth, even with modest increases in mortgage rates”. 

Anyone can track the value of their home or any other property by signing up to Zoopla’s My Home to check the value of their home and track it over time with regular updates on the property value and local market activity.


- Ends -

For further information, please contact PR Team on [email protected] or +44 (0)20 3873 8770.

About Zoopla

Hello. We're Zoopla. A property website and app.

We know you're not just looking for a place to live. You're looking for a home.

Yeah, we've got over a million properties for you to browse.

Tools that let you filter them in all kinds of clever ways.

And reliable house price estimates, so you can be sure you aren't paying over the odds.

But we know you're looking for more than that.

Because that first flat won't just be a 'great investment opportunity'.

It'll be the feeling of starting out on your own.

That extra bedroom won't just mean another £20K on the re-sale price, it'll mean having your sister over to stay.

And that bungalow won't just be a way to release some equity, it will be a chance to spend more time with the grandkids.

We know that searching for a home is about more than just checking its price, location and features (important as all those things are).

What really matters is how it makes you feel.

We know what a home is really worth.

So let us help you find yours.

Zoopla is part of Zoopla Limited which was founded in 2007.

Zoopla Limited, The Cooperage, 5 Copper Row, London, SE1 2LH
Registered in England and Wales with Company No. 06074771
VAT Registration number: 191 2231 33
Data Protection number: Z9972266

Back to Press releases