2020 Vision: The Proactive Agents Forecast For The UK Property Market
The start of a new decade is an ideal time to look back at the housing market over the past 10 years!
With most regions seeing nearly a double digit growth in the past 10 years, independent forecasts predict that house prices will rise by 15.9% in the next five years across the UK.
A £335,000 semi detached home could see a purchase price increase of £37,500 or more!
2020: Ten Years In The Housing Market
In England and Wales, the average price of a property has risen by £72,000 over the past decade. Across the South East, South West and London, average property prices have increased by over £100,000. All but one region have seen double digit house price growth.
Official figures indicate 30% of dwellings are now rented privately from registered providers or with a job or business. This equates to an extra 1.3 million dwellings compared to a decade ago.
Changing demographics and family structures have seen the number of households rise at a higher rate than the population since 2010, a trend that looks set to continue. What will the next decade hold? Only time will tell.
Regional Property Price Growth Forecasts
An average of independent forecasts predicts the average price of a property will rise by 1.8% over 2020 and 15.9%, cumulatively, over the next five years, an increase in purchase price of just over £37,000.
With predicted growth of 2%, Scotland and the North West are anticipated to experience the fastest rate of price growth over 2020.
Over the next five years all regions of the UK are anticipated to witness double digit price growth, the North West and Yorkshire and the Humber leading the pack.
Despite predictions that cumulative growth across the capital will be below that of other regions, the average price of a property across London looks set to rise by over £50,000 over the next four years.
Spotlight on Abingdon & The Villages
Use this table to estimate how much your property’s value will increase in 2020 and in 5 years! Or easier still you can use our handy tool to give you a valuation in an instant.
Here you can log in or sign up to the members area of our website.
Once logged in you can amend your contact details, add email alerts and access your saved properties. New listings and properties that have been subject to a price change will be sent to your email address at your selected frequency.
To manage your alerts, click on the members icon at the top of the screen once you are logged in, alternatively you can access this from each property listed on the website.