This has contributed to more than a tripling of stock over the past decade, with equity sharply increasing by nearly £2 trillion over the same period to hit £2.8 trillion.
This rocketed the value of private housing stock up to 3.4 times outstanding mortgage debt at the end of 2007.
Housing assets have increased most in Northern Ireland over the past decade (by 404 per cent), with those in the South of England worth £0.4 billion more than in the North at £2.2 billion.
Each region has seen an increase of at least 180 per cent in the value of its housing stock since 1997.
In addition, six regions of the UK now have a housing stock worth at least £250bn. A decade ago, only the housing stock in the South East was worth more than £250bn. 36 per cent of the value of the UK's private residential housing assets is concentrated in the South East (19 per cent) and Greater London (17 per cent).
Martin Ellis, chief economist at Halifax, commented: “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 per cent of the value of the UK's £4 trillion worth of housing assets."
