UK house prices 'will hit all-time high by 2015'
The price of an average house will rise 14 per cent over the next four years, reaching the highest ever recorded in Britain, a report will say today.
Respected analysts the Centre for Economics and Business Research predict the typical home will be worth more than £200,000 by 2015, up from its current £176,000.
While the expected rise is still likely to be below inflation, the positive news will come as a relief to homeowners, many of whom have been left in negative equity as the value of their properties collapsed since the recession. Average house prices peaked at £191,200 in 1997.
Douglas McWilliams, CEBR chief executive, said the chronic lack of homes for sale is one of the main reasons that prices will start rising again. He said: ‘We do not expect a house price boom, but the housing shortage is likely to push prices gently upwards.’
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