Hardly Surprising.

From The Daily Mail, a table showing the amount of mortgage debt owed to members of the Council of Mortgage Lenders.  The council’s breakdown puts total mortgage debt at £897billion. Its figures cover three quarters of the market and exclude smaller building societies and other lenders. In other words, total UK residential mortgage lending is about £1,200 billion, the same figure it has been for about six or seven years.  Anyway, here's the table: London - £229.5 bnSouth East - £162.3 bnNorth West - £81.3 bnSouth West - £79.6 bn Scotland - £64.2 bnWest Midlands - £61.9 bnEast of England - £60.6 bnYorkshire & the Humber - £58.3 bnEast Midlands - £44.7 bn Wales - £28.6 bnNorth East - £26.1 bn This is hardly surprising because if you multiply up the number of homes by average selling prices for each region, then London is approx. one-quarter of the total, so all things being equal, you'd expect one-quarter of all mortgage debt to have been originated on London homes.  See also Wiki: "London generates approximately 22 per cent of the  UK's GDP". On most of these measures, London comes out at around one-quarter and London and the South East together are nearly half.