THE North of England has seen a 130% rise in the value or cost of private housing over the past five years.
The figure is significantly higher than the 50% rise across all UK regions, Halifax figures show.
Regional statistics show Northern Ireland had the strongest rise in housing stock value over the period, with a recorded increase of 165%.
The value of UK's private housing was up 12% in 2006 to £3.8 trillion.
Housing equity now significantly outweighs mortgage debt, the lender says.
The value of housing assets increased by £410bn in 2006, against a £100bn rise in mortgage balances, figures show.
In 2006, the value of private housing stock was 3.5 times the value of outstanding debt on home loans.
Cities account for more than a third of the value of UK housing stock, with urban property worth a total £1.3 trillion, figures say.
London makes up almost half of the value of total city housing stock.
But it is Northern cities that saw the sharpest rises in recent years, with Lincoln, Kingston upon Hull and Salford leading the way.
Steep rises in cities in Northern England helped narrow the North-South housing wealth divide over the last five years.
In 2006, the South accounted for 55% of the UK's total housing assets, compared with 62% five years ago. The North has seen its share rise to 45% from 38% over the same period.
