April 29, 2015
London Prices to Continue to Rise
A new report forecasts that house prices in London are set to rise more than 30% over the next five years. It also says that values in the luxury and mainstream segments of the market will soon outpace those across the rest of the UK. London's rising population and the continued imbalance between supply and demand in the capital, along with more relaxed lending from the banks to well-established developers, will boost the London market once the electorate has voted, says the report. The prediction comes despite the recent stagnation of the high-end housing market in central London boroughs as buyers and sellers wait for the outcome of the election. Forecasts that both ends of the London market will see 31% growth from 2015 to 2019, while house prices in the South East will climb 28% over the next five years and 25% in the South West. The value of the average home in the UK will jump 25%, with the weakest growth of any region in Scotland (20%.).