Property in the United States, the United Kingdom, Australia and New Zealand is valued at more than $10 trillion, according to a report published Thursday by the Center for Property Value and Governance at The Brookings Institution.
That’s up more than 12% from the year before.
The average property value in the U.S. and UK was $9.9 billion and $8.8 billion, respectively, according the report.
The U.K. and Australia have seen similar gains, the report found.
The United States saw a decline of 6.7%, and property prices dropped in Japan, the Philippines, Canada and Brazil.
The report said the United Nations estimates that between 1.5 and 1.8 trillion dollars are owned by private companies worldwide.