Covid 19 Status

In line with HM Government requirements to fight the spread of Covid-19 we have measures in place to ensure that we protect our staff, their families and the wider community, but also to ensure that there is minimal disruption to our customers.

Your access to online Multi Agency Credit Reports, Expert Help and Account Management remains unaffected. We take great pride in the support that we provide to our customers and throughout this period will do all we can to minimise the impact on our services. While the country remains in lockdown we will continue to support your queries via a dedicated and experienced team that will be securely working from home, and supported by a Management Team that will continue to be based at our head office and who will be able to provide customer support as required.

The security measures that we have in place to protect your Personal Data, in line with our Privacy Policy, will mean that some elements of our personalised support are affected during this period as our support team will be working with anonymised data when working remotely. Freephone access to our Credit Analysts has been removed during this period while we focus our efforts on continuing to reply to all of your emails and secure messages within one working day.

Thanks for your understanding, and we hope to have full customer support available as soon as possible and wish you well during these challenging times.

CREDIT REPORT SERVICES AND ONLINE EXPERT HELP ARE FULLY OPERATIONAL - PHONE LINES ARE CLOSEDCOVID-19 STATUS

ONLINE SERVICES FULLY OPERATIONAL
PHONE LINES ARE CLOSEDCOVID-19 STATUS

Housing Values Rise to 5.6 trillion

Posted by Tom Magor in Mortgages on 14 December 2016 - Tom is a Senior Credit Analyst at checkmyfile.

While housing prices have displayed a consistent rise over the past several years, according to a recent study conducted by Halifax, the total value of privately owned housing in the UK has exceeded £5.5 trillion for the first time.

Over the course of the last decade, the total value has grown by £1.9 trillion to £5.6 trillion, representing a rise of more than 50%. This considerably surpasses the retail price index which increased by 33% during the same period. The average UK house price currently stands at approximately £241,000, up from £174,000 in 2006, a 39% rise.

Martin Ellis of Halifax says, “A combination of higher house prices and an increase in the number of privately owned homes has seen the value of housing stock grow by £1.9 trillion in the past decade. Overall housing equity held by UK households is in a healthy state, with total housing assets worth over £4.2 trillion more than the value of mortgage debt. Housing equity has grown by £1.6 trillion since 2006. For almost one in three homeowners, who own their home with no outstanding mortgage debt, their financial position is even stronger.”

Perhaps unsurprisingly, total mortgage debt has increased by 25% over the last decade, from £1.1 trillion to £1.3 trillion. However, the value of private housing stock has increased by more than 7 times as much over the course of the same period.

However, there have been variations in the level of growth throughout different areas of the country. The north-south divide has further widened since 2006 with the value of housing in the south increasing more than twice as fast than in the north. As a result, the proportion of total housing assets held by those residing in the south increased from 55% in 2006 to 62% in 2016.

When focusing on the capital, the share of private housing wealth in London has increased from 30% to 37% over the last 10 years. To illustrate the considerable influence of the London property market, the total value of private residential housing in the capital is 14 times greater than Northern Ireland, which at £87bn, is the lowest in the UK.

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