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How the Pandemic Left British Households $1.2 Trillion Richer

A terrible time for public health, jobs and the economy has turned into a bonanza for wealth creation as house prices rose to a record.

U.K. Housing Market Ahead of Latest RICS Figures
Photographer: Darren Staples/Bloomberg

Sam Walkinshaw was just months into a new job as a pilot when the coronavirus grounded flights last year. Since then, she’s been living off the government’s furlough program, which is now coming to an end.

Like hundreds of thousands of other Britons, it’s not clear what will happen to her livelihood. She knows the aviation industry is vulnerable to cuts. But the Covid-19 cloud has one silver lining: the soaring value of her home.