A price tag of £48bn has been put on the value of all the fully owned properties in the North East.
Research by specialist property lending experts, Octane Capital, says there are 311,261 homes owned outright in the region.
And at current prices, the total value - or equity - of these properties is a staggering £47,925,894,800.
Go here for the latest news on the cost of living
The research shows that over 8.8m households across the nation are owned outright and with the current value of these homes averaging £288,130, Octane Capital estimates that total housing equity in England as a whole is £2.547trn.
The South East is home to the highest level of housing equity of all regions, with an estimated value of £560bn in homes owned outright.
London follows close behind with the 948,681 homes owned outright in the capital equating to £493.3bn in housing equity.
At a local level, Buckinghamshire is home to the most valuable property market where total housing equity is concerned.
With the average home valued at £447,579, Octane Capital estimates there is a total of £40.6bn in housing equity across the 90,175 homes that are owned outright.
In the North East it is Northumberland with 61,328 properties owned outright with an estimated value of each £182,638 that has the highest equity value of £11.2bn.
Next comes County Durham (£10.8bn) then Newcastle (£6.5bn) while South Tyneside has the lowest housing equity figure in the region of £3.3bn.
The CEO of Octane Capital, Jonathan Samuels, said: “The total wealth within the housing market is huge and has only grown stronger as a result of the pandemic house price boom.
"For well over a decade, the nation’s homebuyers have also benefited from a far greater level of affordability when it comes to borrowing, with the base rate sat below one per cent.
"As a result, the journey to outright homeownership has no doubt taken them a shorter period of time and this has certainly contributed to current market wealth.
Of course, this research only scratches the surface where the true wealth of the market is concerned, as many homeowners are yet to fully own their home outright, but will still have accumulated a good deal of equity within it."
Location: Homes owned outright; current average house price; est total housing equity
County Durham: 88,102; £123,123; £10,847,360,653
Northumberland: 61,328; £182,638; £11,200,844,913
Newcastle: 36,264; £180,027; £6,528,504,687
North Tyneside: 33,226; £191,614; £6,366,577,496
South Tyneside: 21,915; £151,337; £3,316,559,509
Sunderland: 40,944; £134,865; £5,521,907,102
Gateshead: 29,482; £140,565; £4,144,140,44
