The average price of a home in England will be more than £450,000 in 2030, new research mapping out what house prices could look like across the UK claims.
Buy in London, however, and you could be looking at a cool £1million for the average property.
The calculations for the map from estate agents eMoov are based on the 84 per cent increase in house prices during 2000 and 2015 and applied it to the next 15 years.
It admitted that this was simply a projection of ‘what may happen’ but said that it had done so not to celebrate such a potential rise but warn of the consequences.
If the projected price rises play out, in England average values will reach £457,433, while in Wales they will rise to £307,712 and 297,222 in Scotland.
The most expensive place to live will continue to be London’s Kensington and Chelsea, where typical values of £1.9million could climb to £3.4million.
The cheapest areas such as Barking and Dagenham could see average values increase from £246,000 today to more than £450,000 in 15 years’ time, the research claimed.
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.’
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