The CEBR are forecasting that the typical London home will hit half a million pounds by 2020.
It predicts it to rise to £383,000 by the end of this year.
‘House price rises will be driven by London’s comparatively rosy economic growth prospects, buoyed by IT, business and professional services.’
Their predictions for the rest of the UK are variable, with a clear “North-South Divide”.
Between 2013 and 2018, they predict a rise of 24.8% in the South East, and 25.7%in the East of England. Whereas over this same period the only predict growth of 6.0% in Northern Ireland, 2.3% in the North East.
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