average price of a house in London is set to treble to almost £600,000 by 2020,
according to research published today.
Centre for Economics and Business Research (CEBR) predicted the sharp increase
and claimed that the average cost of a UK home will be £300,000.
news will come as a blow to London’s public sector staff, as nurses, police
officers and civil servants are already struggling to find affordable housing.
CEBR attributed the dramatic price rise to population growth and a shortfall in
the number of new homes being built.
across Britain are expected to rise by 6.24 per cent a year, but London is the
worst hit with an average gain of 6.76 per cent. This would see prices leap
from £183,262 to £595,164.