London house prices set for 30% increase by 2019
London property prices are set to rocket 31% by 2019, a new report has predicted.
According to real estate services adviser CBRE, the capital will outperform the average 25% growth expected across the rest of the UK, boosted by the growing population, higher employment levels and the ongoing supply-demand imbalance.
In the South East, prices are set for a 28% rise, while the lowest level of growth is expected in Scotland, at 20%.
The prediction comes despite the recent cool-down seen in the property market, caused by fears of a bubble that followed a 20% jump in house price growth over a 12-month period. Worries about affordable housing, the Mortgage Market Review and the cap on high loan-to-value mortgages also contributed to the drop seen in prices in the final quarter of 2014.