Homes in Britain’s biggest cities worth £2.64 trillion

The homes in Britain’s ten biggest cities are worth £2.64 trillion – according to the latest analysis from property portal FindaProperty.com.

Its calculation is based on the value of every home, from studio lofts through to luxury mansions, in the ten most populous cities in the country.

Assuming they were all sold at their current market value, FindaProperty.com believes they would add up to this huge figure.

And the national value has gone up slightly compared to this time last year, when homes in the same cities were worth £2.62 trillion (a difference of 1% or £12bn).

London was far ahead of any other UK metropolis in FindaProperty.com’s league table. It is 29 times more valuable than Glasgow in second place and 31 times more than Bristol in third. However by head of population Manchester is actually the second-most valuable city.

Nigel Lewis, property analyst at FindaProperty.com said: “We conducted this analysis because we think it’s the best way to track the full impact of fragile house prices during the current period of uncertainty.

“Looking just at specific property types or particular parts of a town can be misleading as these can vary wildly within the same place, so taking the overall value of properties within a city gives a fuller picture, we believe.

“And while we would have expected London to be the most valuable city in the country based on the total worth of its residential properties, we were still a little surprised at just how far ahead it was of anywhere else in the UK.”