New research plots house prices across UK on a map in next 15 years
Estate Agents eMoov have plotted the predicted house prices on a map for 2030, 15 years from now. The calculation is simply applying the 85% increase in prices the UK has seen over the last 15 years.
Russell Quirk, of eMoov, said: ‘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.’
A property bubble could burst again, according to Mr Quirk, who highlighted the dangers of rapidly growing house prices.
He 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 per cent by 2030.’