What Mortgage
No Result
View All Result
what MORTGAGE Awards
  • Login
  • Register
Add Listing
  • Home
  • News
  • Buy-to-Let
  • Homeowner’s Hub
  • Equity Release
  • wM Awards
  • First-Time Buyer
  • Home
  • News
  • Buy-to-Let
  • Homeowner’s Hub
  • Equity Release
  • wM Awards
  • First-Time Buyer
No Result
View All Result
What Mortgage
No Result
View All Result
Home News

Average UK house price to hit £321,600 by 2020

by Stephen Little
October 26, 2015
Average UK house price to hit £321,600 by 2020
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

housepricegrowth

The average price of a UK house is set to hit £321,600 by 2020, a jump of almost £60,000, new research suggests.

According to the Centre for Economics and Business Research, house prices will continue to grow and building more property won’t be enough.

The forecaster said annual house price growth had been revised from 4.7% in June to 5.6% this month and that the average price of a UK property will reach a record high of £263,000 this year.

It predicts prices are set to rise by a further 3.5% in 2016 and 4.2% in 2017.

Related Articles

  • Confused over life insurance jargon – what do the terms mean?
    April 24, 2025
  • Leasehold reforms: How will they impact your home purchase?
    April 16, 2025
  • What factors qualify someone as a first-time buyer?
    April 15, 2025
  • Divorce: Can I release equity to buy out my wife?  
    April 14, 2025

Cebr said one of the key reasons behind the upward revision was due to the lack of properties on the market “drying up” the supply.

It said that one of the main drivers behind this was the dramatic rise in homeownership amongst retired people who are less likely to move home. Cebr suggested that one solution to this problem is to encourage pensioners to put larger properties on the market though the removal or reduction of stamp duty.

It also believes that price differences rocketing between different types of house in some regions is preventing people moving up the property ladder.

For example, in 2000 the price difference between a terraced house and a purpose-built flat in London was £46,000, which nearly quadrupled to £176,000 in 2014.

Nina Skero, Cebr economist and main author of the report, 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. This is a result of low levels of housebuilding, but also other factors such as an ageing population and the rising cost of moving up the property ladder.

“The price gap between a first-time home and a larger family home has skyrocketed in some regions, such as London, curbing activity in the housing market. For many, the rungs of the property ladder are moving further apart, making it impossible to upsize.”

Tags: CEBRhouse pricesproperty
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

Our recommeded tools

Mortgage Calculators

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.

Mortgage Best Buys

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.

Mortgage Match

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.

Mortgage Search

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Related Articles

  • Confused over life insurance jargon – what do the terms mean?
    April 24, 2025
  • Leasehold reforms: How will they impact your home purchase?
    April 16, 2025
  • What factors qualify someone as a first-time buyer?
    April 15, 2025
  • Divorce: Can I release equity to buy out my wife?  
    April 14, 2025

Newsletter

Register for our free weekly newsletter for all the latest mortgage news, tips, and features.

Sign Up

Polls

Will the increase in stamp duty on 1 April 2025 make you less likely to buy a property?

View Results

Loading ... Loading ...
  • Polls Archive
  • Advertise
  • Media Information 2018
  • Contact Us
  • About us
  • Terms & Conditions
  • Essential Links
  • Privacy

what Mortgage, Metropolis International Group Ltd © 2025
Registered in England no. 02916515

[MBM_Form id="284841"]

Buying a property, moving home or re-mortgaging? Sign up to our newsletter and marketing emails, and we'll send all the latest mortgage news, top tips, expert advice and what MORTGAGE Awards updates straight to your inbox.

I am a...*
First Name*
Email*
First Name*
Last Name*
Email*
Company
Job Title
I would like to receive...
[MBM_Form id="284841"]

Buying a property, moving home or re-mortgaging? Sign up to our newsletter and marketing emails, and we'll send all the latest mortgage news, top tips, expert advice and what MORTGAGE Awards updates straight to your inbox.

I am a...*
First Name*
Email*
First Name*
Last Name*
Email*
Company
Job Title
I would like to receive...
No Result
View All Result
  • Home
  • News
  • Buy-to-Let
  • Homeowner’s Hub
  • Equity Release
  • wM Awards
  • First-Time Buyer

what Mortgage, Metropolis International Group Ltd © 2025
Registered in England no. 02916515