The average house price in England could be as high as £457,433 by 2030, new research has revealed.
Unsurprisingly, the most expensive place to live will be in London, where the average price is predicted to be over £1 million.
According to online state agent eMoov, the only areas of England that will offer an average house price under £280,000 by 2030 are Merseyside (£275,074), East Riding of Yorkshire (£277,411) and Durham (£279,985).
The figures were worked out by taking the average property price increase between 2000 to 2015 of 84% and using this to project how much the price of a home could set you back in 2030.
Other than London, 12 counties across England will also be home to an average house price over £500,000. Property across Dorset, East and West Sussex, Kent, Essex, Berkshire, Surrey, Oxfordshire, Hertfordshire, Buckinghamshire, Cambridgeshire and Rutland will all command more than half a million pounds on average.
The current trend of London homeowners moving to the surrounding areas may soon become a national trend of English homeowners looking to Wales. In 2030 the average house price in Wales will hit £307,712, expensive but £150,000 cheaper than England. In fact, just Monmouthshire (£442,141) will offer an average house price over £400,000.
In the North, as the projected average house price for Scotland in 2030 is the cheapest of the three at £297,222. Edinburgh is still the driving factor with the highest price of the lot at £432,468, joined by Aberdeenshire as the only other Scottish location to break the £400,000 mark. At £200,600, North Lanarkshire offers the best value for Scottish buyers in 2030.
The highest prices are predicted to be in Kensington and Chelsea, where a property will set you back on average £3.4 million.
Your best bet for getting on the property ladder is Barking and Dagenham with the lowest average house price in London.
Out of the capital’s 32 boroughs, 14 will have an average house price above £1 million, with only Croydon, Bexley and Newham, along with Barking and Dagenham, offering an average house price below £600,000.
Russell Quirk, founder & CEO of eMoov.co.uk, said: “The past 15 years have seen extreme growth in the price commanded for UK property, as well as a crash as a direct result of this inflated growth. Although this research is only a projection of what may happen by 2030, it is safe to assume that with prices continuing to spiral beyond affordability, history could well repeat itself.
“Although rising prices are always good news for current homeowners, it’s extremely worrying to look at the difficulty many have in getting on the ladder at the moment, let alone with a price jump of 84% by 2030.
“This map highlights just how dangerous this current artificial inflation of the market could be in the long run, it’s not just London that will become beyond the reach of the average UK homebuyer, the issue will spread the length and breadth of England, Scotland and Wales.”
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