House prices to rise 30% in London by 202025th 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.