The total value of UK homes has surged to over a record £10 trillion this year as strong demand and a lack of supply continues to drive house prices, according to Zoopla.

The value of the county’s housing stock has lifted by £1.3 trillion, or 15%, from February 2020, a month before pandemic lockdowns began, says the property website’s Value of Housing report. This has netted the average homeowner £48 per day in capital gains,

The survey estimates that 9.4m homes, or 32% of all properties, have grown in value by more than £50,000, and since the average UK household income came in at £34,100 last year, this means that some properties are generating more cash than their owners’ salaries.

Wales saw the greatest jump in value, rising by 22% over the period, followed by the North West and South West, both lifting by 20%.

However, in the capital the increase is just 7%, less than half the national average “as affordability factors and the impact of the pandemic and working from home dented the demand for homes, especially in high value inner areas of London and the market for apartments”.

A great number of high-value homes remain located in London and the South East, which account for 23.5% of the UK’s housing stock, but weaker growth over the last two years means the share of housing wealth in these two areas has fallen from 26% before the health crisis.

Also, higher average selling prices explain why over a third of the homes that rose by more than £50,000 are based in London and the South East. Homes in these two areas account for £4.3trn of the country’s £10.1trn housing stock. The average price of a home in London is £516,000, compared to Wales where the average price is £201,000, while the average UK price is £266,000.

However, in the South West 1.9m homes grew by more than £50,000, the most for any area. Also, a further 9.4m homes around the country grew by between £25,000 and £50,000.

But the study points out that not everyone made gains during this period with the value of 1.6m homes, or 5.7% of properties, currently worth the same or lower than the pre-pandemic period. And 800,000 of these homes have seen their value decline by 5% or more “with most concentrated in inner London where the impact of the pandemic has hit travel, working patterns and demand for homes”.

The report adds that 28% of the homes falling in value by more than 5% are in London – of which half are in the central London boroughs of Westminster, Kensington & Chelsea, Islington, Hammersmith & Fulham, Tower Hamlets and Southwark. It adds that Aberdeen and Aberdeenshire, where the economy has suffered from the historic decline in oil prices, accounted for a further 6% of homes falling in value.

Zoopla chief operating officer Andy Marshall says: “The impact of the pandemic on the value of housing across the UK cannot be underestimated, with one in three homeowners making over £50,000 on their property during the pandemic.

“This provides a clear opportunity for agents when it comes to nudging those high-value homeowners to sell their properties – highlighting how their property has significantly increased in value over the course of the pandemic could be the final push they need to take the plunge and list their property for sale.”