Correction Housing Wealth Figures. 12.3 Trillion? 8.6 Trillion? 4.57 Trillion?
SOLVED> edit 10.45 am 6 June 2023 5.26 Trillion of Net Housing wealth in the...
So whats £3.7 Trillion amongst friends a trillion here and a trillion there soon we’ll be talking real money.
Correction Housing Wealth Figures. 12.3 Trillion? 8.6 Trillion? 4.57 Trillion?
In My Blog yesterday I wrote to the ONS regarding a freedom of income request on Property Wealth net per percentile of population in the UK.
I was revisiting the numbers this morning for a local market analysis I have been doing for a regional sub set of the data and realised that I had summed the total wealth per percentile and multiplied by total population rather than summed each percentile by the net wealth per percentile
The resulting very large number was obviously some sort of multiplication error , and it turned out to be my own.
The actual figure on re-calculating is still intriguing as it is 50% above the 8.6 trillion of total UK housing stock quoted in the last Savills total net household wealth survey.
the table is showing 12.3 trillion net property wealth in 2016-2020 as opposed to my figure of 4.57 Trillion net property wealth and Savills of 8.6 trillion for 2022 Stock Value
Your figure is still roughly 50% higher than Savills figure for 2022 and still seems to be wrong but not as wrong.
https://docs.google.com/spreadsheets/d/1qB9bJiSbSWk1skq-bACJfFI8aSeARI5yCHiOf03un5g/edit?usp=sharing
Total Value of Stock 8.4 Trillion
Freedom of Information. Housing Wealth, Solvency Ratios and the Magic Money Tree. SKIN IN THE GAME
Automatic reply: Uk Housing wealth by percentile FOI request 3 june 2023
Real-Estate Land Development Limited <rlddevelopments@gmail.com>Tue, Jun 6, 2023 at 8:20 AM
To: Wealth and Assets Survey <Wealth.and.Assets.Survey@ons.gov.uk>
Thank You for the reply,
I have re checked the figures and have found where I made an error in checking your figure,
The Figure of Total Housing Wealth that your table gives is 12.3 Trillion (12302355000000)
I had summed the percentiles and multiplied by total population rather than multiply the Percentile population by percentile wealth.
In any event the table is showing 12.3 trillion in 2016-2020 as opposed to my figure of 4.57 Trillion and Savills 8.6 trillion.
Your figure is still roughly 50% higher than Savills figure for 2022 and still seems to be wrong but not as wrong.
I would still like some clarification .
Thank You
Roger
http://realrld.com/
http://www.homeatix.net/
Real-Estate Land and Developments Limited
email: rlddevelopments@gmail.com
UK Mobile (+44) (0)7498880719
skype: rogerglewis
Grasloksvagen 21, 26697, Hjarnarp, Sweden
Roger Lewis
REAL-ESTATE LAND AND DEVELOPMENTS LIMITED
Company number: 12600616
On Mon, Jun 5, 2023 at 8:44 AM Wealth and Assets Survey <Wealth.and.Assets.Survey@ons.gov.uk> wrote:
Thank you for contacting the Wealth and Assets Survey Team.
The following information may help answer your query so please let us know if you no longer require a response; otherwise, we will aim to get back to you within 5 working days.
Family Spending
Family Spending in the UK: April 2020 to March 2021 is now available and can be found on the ONS website: Family spending in the UK – Office for National Statistics (ons.gov.uk)
Queries regarding this release should be sent to: hie@ons.gov.uk
Wealth and Assets Survey
Latest wealth estimates (April 2018 to March 2020):
Distribution of individual total wealth by characteristic in Great Britain: April 2018 to March 2020
Latest analysis on attitudes and opinions on saving for retirement and bills and credit commitments
Wealth and Assets Survey and Living Costs and Food Survey
Latest estimates on household finances, (income, spending and wealth)
In addition to the tables prepared for the standard outputs from ONS Wealth and Assets team, tables may be independently commissioned, where practicable, when customer requirements are not met by data available in the published tables. Here is a link to the Wealth and Assets Charging Rates.
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Kind regards,
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Key findings
The outstanding value of all residential mortgage loans was £1,675.8 billion at the end of 2022 Q4, 3.9% higher than a year earlier (Table A). footnote[1]
1,675,800,000,000 Value of Outstanding Mortgages on Bank Balance Sheets
Secured against By Savills Figure for Jan 2022 £2,900,000,000,000 £2.9 Trillion of Value
1675.8/2900 = 57.786% LTV
If as some commentators Claim Values Fall by 35% in real terms
The Value of all Mortgaged Property would fall to 1.875 Trillion and the Loan to value ratio on Bank Balance sheets would rise to 88.9% This would have very severe consequences on the rating of Mortgage Debt held by banks as secured collateral for Tier 1 Basel 3 Solvency purposes.
Regarding Falling Prices at the End of 2021 “un-mortgaged owner occupiers continued to be the fastest growing housing tenure in 2021, up 12.0% on the year to reach a total of 3.3 trillion”.
53.2% of the UKs Residential Housing Stock in private ownership is not Mortgaged this figure suggests why Prices for Property are much stickier going down than going Up.
https://web.archive.org/web/20230702100659/notthegrubstreetjournal.com/
https://web.archive.org/web/20230529162710/https://notthegrubstreetjournal.com/page/2/
Freedom of Information. Housing Wealth, Solvency Ratios and the Magic Money Tree. SKIN IN THE GAME
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