Interesting article in the Telegraph today about how much your property will be worth in 2040 based on information from think tank Policy Exchange. With inflation and house price rises they believe that average UK house prices will be £780,000.
Rightly they raise concerns about affordability and how few properties are currently being built.
This figure strikes be as a reasonable estimate because Hillingdon Borough average prices have risen from £84,000 to £294,000 in the 18 years between 1995 and 2013.
Hillingdon property is more expensive than the national average by around 25%. If we apply the current premium (if it stays consistent) to the figure Policy Exchange reached of £780,000 we get to £975,000 for the average property in Hillingdon. Just under a million pounds!
If you are invested for the long term property has it’s attractions!
