HOUSE PRICES TO SOAR 50% AND RENT BY OVER A QUARTER BY 2025
Association of Residential Letting Agents (ARLA) and National Association of Estate Agents (NAEA) have worked with the Centre for Economics and Business Research (Cebr) to analyse home ownership issues facing the property market over the next 10 years and the steps that must be taken.
The results which include predictions that rents are likely to increase at a higher rate than previously expected, and first time buyers will face more of a struggle than ever before, include predictions that house prices will increase by 50% of their current value by 2025.
The average price in Scotland is expected to reach £281,000 from the current figure of £196,000.
Additionally, rental costs are expected to increase by 25% which will be driven by a decline in home ownership and population growth.
The full article can be read here.
