The UK’s worth grew by the largest amount on record to reach £9.8tn at the end of last year, boosted by land value, which has grown “more than fivefold” since 1995, according to official data.
The land was found to be the UK’s single most valuable asset, making up more than half of the UK’s total net worth, according to the annual ONS report, an estimate of the market value of UK assets is known as the national balance sheet.
Non-financial assets increased by £477bn in 2016, with £280bn of that growth coming from rising land value. The land is worth £5.0tn, equivalent to 51pc of the total value of the UK.