News

House prices to rise 30% in London by 2020

25th November 2016

According to some recent research carried out by The Centre for Economics and Business Research (CEBR), the think tank, forecast that the average price of a London property is set to surge past £5000,00 by the end of this decade. CEBR said prices in the capital will rise more than 30% by 2020, from £383,000 today. House prices have and will be driven by London’s rosy economic growth prospects and low reliance on the public sector for jobs.

CEBR also warned of a growing divide between prices in the south of the country and those in the north. It expected prices will rise 24.8% and 25.7% in the southeast and east of England respectively between 2013 and 2018.

By contrast house prices in Northern Ireland and North East England will grow by 6% and 2.3%. Despite the optimistic forecast, prices are unlikely to rise as fast as they did during the boom years before the credit crunching.

Source: www.leonkaye.co.uk