Although my monthly net worth calculations do not reflect either (i) changes to the values of our properties or (ii) mrs traineeinvestor's assets and liabilities, I do run a separate consolidated balance sheet which reflects both of these factors and which is updated less frequently.
As part of my year end review, I updated the property valuations and outstanding mortgage balances and found that we have now reached the position where all of our properties have more than 50% equity (i.e. the amount of outstanding principal owed on each mortgage is less than half the value of the underlying property). This result is due to a combination of monthly principal payments and higher valuations as the local property market has risen this year.
The range of gearing ratios is 0% (i.e. no mortgage) to 49%. Assuming no further changes in valuations, the gearing ratios will continue to fall each month as additional mortgage payments are made.