[Land and buildings in] just ten London boroughs – Westminster, Kensington & Chelsea, Wandsworth, Barnet, Camden, Richmond, Ealing, Bromley, Hammersmith & Fulham and Lambeth - have an aggregate value equivalent to the total value of [land and buildings in] Scotland, Wales and Northern Ireland combined at just over £550 billion. Even within London, wealth is increasingly focused in core central and high value boroughs. The richest borough – the City of Westminster – has just 121,600 units, with a total value of £95 billion, more than twice the value of Edinburgh and almost three times that of Bristol.
And beyond the capital the analysis highlights some pockets of very concentrated housing wealth. For example, the high value commuter hotspot of Elmbridge in Surrey (which includes Cobham, Esher and Weybridge) has a housing stock value of £31 billion, more than that of Glasgow (£29bn), while that of Windsor and Maidenhead (£23bn) is slightly more than that of Cardiff.
Via Rumble at HPC who spotted it in the FT.
Monday, 4 February 2013
My latest blogpost: "The extreme geography of property wealth"Tweet this! Posted by Mark Wadsworth at 07:36