Housing Markets and Business Updates
House market 10-year prediction
If the current property market trends carry on as they are, the UK could see an average house price of £392,301 by 2050.
The research shows that the house prices in the UK have increased by 26 compared to 2015 and 7 % this year compared to 2019.
House prices are a big talking point in the industry this past year, and we wanted to see what we could come to expect if they continue to rise at the same rate as they have since 1980.
Many things have made an impact on house prices, and nobody can predict for certain what the economy and property market might look like in the future. It is interesting to see what we could expect in the UK if house prices follow in the footsteps of the past.
Whatever the precise house values are a decade on from now, average salaries are unlikely to catch up at the same rate, and houses will remain unaffordable for a huge section of the population unless drastic changes are made to help first-time buyers and increase housing stock.
If you are looking to buy property either for your first time or as an investment and would like to get more information, you can book schedule a free consultation with us.