According to the ludlowthompson report, the average price of a UK house is expected to increase by £17,000 by the end of next year.This year average house price has increased between £20,000 and 289,452 in UK.
Areas such as the outskirts of London, where transport links are set to benefit from the Crossrail development, are expected to benefit from a rise in house prices, aided further by new housing developments and improvements to local infrastructure, said in report.
“Improved transport links are giving more families and young people the opportunity to live in outlying areas of London. This is set to create urban villages, which will encourage investment in infrastructure and attract more shops and restaurants to the area.” said Stephen Ludlow, Chairman at ludlowthompson.
Improving economic conditions mean London is set to see a strong demand for housing in 2016 which will further boost house values, according to the report.
Stephen Ludlow adds: “The new Help to Buy scheme for London will encourage potential buyers to get on the property ladder and it will also create an added incentive for those thinking of selling their home in 2016.”