According to the Centre for Economics and Business Research (CEBR) house prices in Scotland are forecast to soar by more than 25% in the next five years. The predicted rise will see the average price of a home in Scotland rise by nearly £50,000 between now and 2018. The rise is expected to be driven by the fundamentals of demographics, recovering economy and the populations need for more homes. The Bank of England’s forward guidance on base rates should also anchor mortage costs and so support house price growth. The full report can be read at CEBR.
