While the value of mortgage debt has risen by 35% from £942bn to £1.28 trillion over the period housing equity has risen by 60% from £2.4 trillion in 2005 to £3.8 trillion in 2015.
The value of the UK’s entire private stock is an estimated at £5.1 trillion, up by £1.8 trillion from £3.3 trillion in 2005.
In the past year alone the value of private housing stock grew by £262bn.
Martin Ellis, housing economist at Halifax, said: “Aggregate net housing equity held by UK households is in a healthy state with total housing assets worth nearly £4 trillion more than the total value of mortgage debt.
"Despite the rapid rise in mortgage debt over the past ten year, net housing equity has grown by £1.4 trillion since 2005.
“The increase in total housing value over the past decade is equivalent to over £76,000 per privately owned property.”
Housing equity is highest in London at £798bn (305,749 per household) followed by the South East at £722bn, (£223,197), and the East at £461bn (£212,263).
Outside southern England the highest equity levels are in the North West at £283bn (£109,043 per household), West Midlands at £251bn (£128,703) and Scotland at £241bn (£124,679).
