UK is valued at £6 trillion

Last updated at 17:07 24 July 2006


The total value of the UK was £6trillion at the end of last year, official figures showed today.

The Office for National Statistics report, which adds up the value of buildings, roads and financial assets among other things, showed an increase of £119billion on the previous year.

Housing continued to be the most valuable asset, with a total value of £3.58trillion - up 4 per cent on the previous year and representing 59 per cent of the country's total wealth.

Within this, some £3.36trillion belongs to households and non-profit organisations.

Between 1948 and 2003, the total value of non-financial assets in the UK increased from £551 billion to £2.55trillion, the ONS said.

Over the past five years, the value of plant and machinery in use increased by 6%, the study showed.

The total cost of replacing all of the country's capital assets in their current conditions would be £2.67trillion at current prices, the ONS added.

The report - Capital Stocks, Capital Consumption and Non Financial Balance Sheets - is published annually by the ONS.

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