Predicted house price rises over next 5 years

November 2, 2015

According to a report out last week in one of the main stream newspapers the average house price in the UK will rise by 25% over the next five years to more than £320,000, this  is a revised prediction by the Centre for Economics and Business Research, one of the country’s most respected forecasters.

This increase in house prices  is being put down to the scarcity of property for sale, Economist Nina Skero, author of the report, reportedly  said: “A reduction in the number of properties being put on the market has placed further upward pressure on house prices in some parts of the UK.

It was highlighted in the report how the price gaps between different property types are widening, the effect of this is that first time buyers find it even more difficult to get that first foot on the ladder and  those wishing to move up the ladder.

Housing Minister Brandon Lewis recently talked about  Government schemes that should help open the door to owning one’s own home, saying that they want to ensure that anyone who works hard and aspires to own their own home has the opportunity to do so.

As the prices move up and with the possibility of future interest rate rises, potential first time buyers will need all the help they can get, the new government website lists all the schemes available, for more information visit:  www.ownyourhome.gov.uk.

 

Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.

You May Also Enjoy

Love or Hate Rightmove
Breaking News

Rightmove rental tracker: 50,000 rental properties needed to bring supply back to pre-pandemic levels

Average advertised rents outside of London rise to a new record of £1,291 per calendar month (pcm), though the pace of rent growth continues to slow, with average rents now 8.5% higher than last year London rents reach a new record by two pounds, rising to £2,633 per calendar month. Average advertised rents in the…
Read More →
Letting Agent Talk

Half of Renters Don’t Know Where to Turn When Something Goes Wrong

Results come as TDS Charitable Foundation develops new service to support tenants to uphold their rights. HALF of all private renters would not know where to turn to if a landlord or letting agent failed to address a problem in a property. That’s according to interim results from a new representative survey of over 2,000…
Read More →
Estate Agent Talk

Liverpool’s Real Estate Market: What You Need to Know

Liverpool’s real estate sector presents a dynamic environment for investors, homebuyers, and tenants alike. As the city continues to expand and develop, understanding the nuances of this market is crucial for anyone looking to engage with property in the area. This article provides a comprehensive look at the current trends, investment opportunities, and potential challenges…
Read More →
Estate Agent Talk

Identifying Common Structural Issues in Balconies

Living in a city like Sydney, where a breathtaking view of the cityscape and ocean can be the crowning jewel of your property, it’s no surprise that balconies are key features sought after by homeowners. However, over time, these aesthetically pleasing elements can become a structural nightmare due to a range of issues that compromise…
Read More →
Estate Agent Talk

Stay Safe With Aluminum Ladders: 5 Facts About Lightning Attraction

Whether redecorating, putting items away in storage, or cleaning windows, there are many reasons why you may need ladders. They’re likely an item you have tucked away in your garage or, if a contractor, a tool you carry to and from work. Although highly beneficial, it’s essential to use this device correctly. Why? Aluminum is…
Read More →
Letting Agent Talk

Some Instances Where Landlords Are Liable for Slip and Fall Accidents

In bustling urban environments, slip-and-fall accidents can disrupt lives, leading to injuries and legal complexities; landlords are responsible for maintaining safe premises. From icy sidewalks to poorly maintained staircases, instances where landlords may be held accountable for slip and fall accidents are diverse and nuanced. Understanding these scenarios is a matter of legal obligation and…
Read More →