According to an article in Property Week, London house prices are set to rocket by as much as 34.8% over the next five years. This figure compares with a national average of around 17%.
CBRE forecasts that the government’s ‘Help To Buy Scheme’ will help half a million people get onto the property ladder, beacause of a reduction in interest rates and improvements to the mortgage market in general.
It has been said that the first phase has achieved it’s objective, stimulating the Uk property market, delivering over 15,000 reservations since April. In the second phase of the scheme, it is expected that over half a million buyers will make their first steps onto the property ladder.
The top five regions to show the highest growth will be London, the south-east, east Midlands and south-west. Scotland and the north-east would have the lowest growth, at 9.3% until 2018.
To read the full article please follow the link to Property Week below: –