The number of homes and businesses in Britain being destroyed by the global financial crisis has risen sharply in the past two years.
The total value of all property destroyed is now £1.2 trillion, according to the latest figures from the Property Fund, a property insurer.
The fund is a government body and covers more than 8,000 property investors and developers.
It has warned of the “dire economic and financial” situation in many areas of the country.
It says there are now about 12 million properties in the country worth more than £50 million, with the total value in Scotland, Wales and Northern Ireland now more than four times that.
The latest figures for Scotland show that the value of property destroyed in Scotland is now nearly £2.6 billion, and £1 billion in Northern Ireland, the largest losses in the UK.
In England and Wales, the value in England is now over £1 trillion, and nearly £700 billion in Wales.
The UK’s total wealth is estimated to be £2 trillion.
The Property Fund’s director, Tom Laidlaw, said: “We are now seeing a dramatic rise in the value and value of the value lost in these areas.”
“It’s not just the houses and shops.
It’s the entire country.”
In the last 12 months, more than 10,000 people have been killed in the Great Fire of London.
The number killed in that fire has now risen to 8,858, according the Home Affairs Select Committee.
In the latest annual report of the Home Office, published last month, the Office for National Statistics said the value destroyed in the Grenfell Tower blaze in London was £2 billion, with more than 1,100 buildings lost or damaged.
There have been three deaths in Scotland in the last 24 hours, with another two people seriously injured.
Mr Laidsell said the crisis was not the result of a lack of demand for property.
He said the number of properties destroyed was likely to increase if the government did not act quickly to rein in house prices.
“What we’re seeing in the market is the market’s response to this crisis is to try and get it under control, and that means we’re going to see a very sharp rise in property values over the next few years,” he said.
“It won’t be the whole world, but the number is going to go up.”
A Home Office spokesman said: The value of homes destroyed by fire is subject to change.
We are making a strong commitment to help people buy homes in the coming years.
If people are experiencing difficulties in finding suitable homes, they can apply to have their mortgage or property loan forgiven.
For more information, visit the Property Institute.