Savills 5 Year Forecast
According to UK estate agent Savills, house prices in the north of England are set to increase over the next 5 years, at a higher rate than the South. Their recent report suggests the increase could be as much as 20%.
A rise of almost 20% is also predicted for both Scotland and Wales.
House prices in these areas are recovering at a slower rate than London has experienced over recent years. In London house prices have increased by a massive 72% in the last 10 years.
The recent forecast is due to Brexit, mortgage regulation, and a gradual rise in interest rates.
The report also suggests the UK average house price will increase by 14.8%, meaning that figure is likely to hit £248,086.