More than half of the UK’s total wealth is tied up in land, according to the Office for National Statistics' (ONS) annual estimates of national net worth.
The UK’s assets as a whole were valued at £10.2 trillion, with land accounting for 51% of this figure – a higher proportion than in any other G7 country.
This is 12% more than the G7 average of 39%, as well as 9% above runner-up France and nearly double Germany’s figure of 26%.
Value of countries' land as a percentage of net worth, 1995 to 2016
The ONS estimated the UK’s net worth as having grown 5.1% from £492 billion in 2016 to £10.2 trillion in 2017, with £450 billion of this increase coming from land.
This leaves growth over the period at only 0.9% if the contribution of land is excluded, with financial assets and liabilities decreasing in value by £117 billion.
Value of land within UK net worth, 1995 to 2017
The country’s wealth was estimated as having more than trebled from 1995 to 2017, but with land contributing 53% of the value of non-financial assets.
Most of that growth was from household land, which has outpaced all other sectors to reach an estimated £4.1 trillion in 2017, representing 76% of the value of all UK land, up from 61% in 1995.
Value of countries' land excluding the household sector as a percentage of net worth, 1995 to 2016