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Average Residential Property will cost

 £267,000 by 2018

Average UK Residential Property Prices Increase

Average UK Residential Property Prices Increase

Average UK residential property prices for 2014

are estimated to be 2.3% higher than in 2007

Forecasts from the Centre for Economics and Business Research (CEBR) suggest that a typical residential property in the UK will cost an average of £227,000 (GBP) in 2014, overtaking the average peak price of residential property observed at the height of the housing bubble in 2007, for the first time.

The CEBR also predict that the average residential property price will be £222,000 (GBP) by the end of this year, 1.4% higher than average property prices reached in 2012.

By 2018, the CEBR expect the cost of a typical residential property in the UK to average £267,000 (GBP).

In 2014, the CEBR estimate that the Government’s Help-to-Buy scheme could raise UK property prices by up to 0.8% without having any appreciable impact on the current housing supply.

However, if the upward trend in residential property prices continues, it could lead to an additional 4,800 residential properties being built in 2015.

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