UK Worth £5.8 trillion
Increase of £404bn on previous year
Sector net worth including financial assets in £billion
Total net worth of the UK including financial assets at the end of 2004 was £5,843 billion. This is an increase of £404 billion on the previous year.
Detailed figures of the country's wealth show that the most valuable asset continues to be housing with a total value of £3,427 billion. This is up 12 per cent on the previous year and equivalent to 59 per cent of the nation's wealth. The value of housing stock belonging to the household and non-profit organisations sector was worth £3,221 billion.
Total UK depreciation (capital consumption) of all assets in 2004 is estimated at £123 billion, with depreciation of plant and machinery accounting for nearly a third of this figure. The value of plant and machinery in use (net capital stock) has increased by 11 per cent in the past five years, indicating that investment is greater than depreciation.
The total cost of replacing all capital assets in their current condition is estimated to be £2,607 billion, at current prices.
At 2002 prices, the total net capital stock of the UK has increased from £533 billion in 1948 to £2,525 billion in 2004.