More than half (56 per cent) of all wealth in the UK is tied up in residential property, according to the latest research from Sainsbury's Bank.

An estimated £86,000 in value has been added to homes over the last five years as a result of house price inflation, the financial services provider has found, suggesting larger home equity loans could be acquired as a result.

And with homeowner loans sometimes used to pay for home improvements, the bank has reminded consumers of the importance of keeping a property in shape.

"With winter approaching, the risk to homes from bad weather increases, but there is a lot that home owners can do to reduce losses through the maintenance of their properties," said Steve Johnson, head of Sainsbury's home insurance.

According to the most recent statistics from the Halifax house price index, the average house price for the UK, seasonally adjusted, is £197,248, with house prices 0.3 per cent higher in the three months to October compared with the previous three months.ADNFCR-1287-ID-18370314-ADNFCR

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