Research predicts major house price rise during upcoming decade

February 6, 2021 by Brendan O'Neill

House Prices

Research conducted by the property website Good Move suggests that the average price of a home in the UK is set to rise steeply over the course of the next decade.

This research saw Good Move examine changes in UK house prices during the past four decades in order to come to a conclusion about what the upcoming decade will bring. The data it looked at showed an increase in the average price from £19,273 to £239,927 in the years between 1980 and 2020, which represents a rise of 1145%.

Based on these figures, Good Move has concluded that there will be a 17% rise in the average price of a residential property between now and 2030. This would mean that the average UK house price will reach £279,641 by that time. Good Move has also indicated that, by 2050, it expects the average price to have hit a staggering £392,301.

Good Move Director Nima Ghasri told Mortgage Introducer that there had already been a sharp increase in property prices this year, rising by 26% in comparison to 2015. She went on to add that:

“House prices have been a huge talking point in the industry this past year, and we wanted to see what we could come to expect if they continue to rise at the same rate as they have since 1980. That’s why we conducted this research.”

As CeMAP mortgage advisor training makes clear, advisors must always pay attention to property prices, as they can make the market more challenging for buyers.