CEBR - House Prices to More than Double by 2020
The highly respected CEBR (Centre for Economics and Business Research) announced in late April they predicted that the average house price would rise from today's worth of £114,500 to an average of £279,900 by 2020.
Mark Pragnell, Managing Director of CEBR commented:
"Although the housing market will slow appreciably over the next few months, residential property remains an excellent investment. Over the next decade house prices will rise by an average of 5.2% per year."
"Although many experts assume that the current rate of mortgage equity withdrawal is a temporary phenomenon, because we fail to build houses fast enough to meet rising demand, we can expect a return to relatively high rates of house price inflation when consumers confidence and the economy picks up again."