Property News > How Much Will Your Home Be Worth In Five Years?

How Much Will Your Home Be Worth In Five Years?

It’s been a bit of a rocky ride for the property market of late, particularly for those homeowners in London, and it looks like the North is to outperform the South for the considerable future according to recent forecasts.The research suggests that £33,000 will be added to homes in the capital over the next five years, a 7.1% increase. However, the forecast looks much more promising for the north west, which will see the highest rise at 18.1%. Interestingly, London properties will see prices fall both for the rest of this year and next with the uncertainty of Brexit, with things starting to look up again around 2020.That means that by 2022, buying a home in London will sneak above over half a million pounds for the first time. But how much will the average home cost in your area? Five years from now figures will on average, look something a little like this…
RegionAverage House Price Today (2017)Average House Price in 2022 (percent increase bracketed)
North West£156,000£184,000 (18.1%)
North East£127,000£149,000 (17.6%)
Yorkshire & Humber£151,000£178,000 (17.6%)
Scotland £146,000£171,000 (17%)
Wales£150,000£174,000 (15.9%)
East Midlands£178,000£204,000 (14.8%)
West Midlands£183,000£210,000 (14.8%)
South West£241,000£275,000 (14.2%)
East of England£288,000£321,000 (11.5%)
South East£322,000£358,000 (11.5%)
London£472,000£505,000 (7.1%)
 

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