Property prices likely to double in 'broken' market
The price of a home in England is likely to double over the next 10 years to around £446,000 unless stronger action is taken to tackle the "broken" housing market, charity Shelter has warned.
Property prices likely to double over 10 years
Property prices in England are likely to double to around £446,000 over the next decade unless more is done to tackle the "broken" housing market, a report from charity Shelter warns.
The research, collected by Shelter and KPMG, found the cost of a home could quadruple in 20 years if there is not a major house building programme, as 100,000 fewer homes than are needed every year are being built.
If current trends continue, the average cost of house is expected to rocket to £900,000 by 2034.
The report, titled Building The Homes We Need, maps out a programme for the next Parliament that it says would help the 2015 Government turn the tide on the shortage by raising house building levels to 250,000 a year by 2021.
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