House Prices In London Could Double In 15 Years
Price Rises Likely As We Struggle To Keep Up With Demand
According to experts house prices across London could double over the next 15 years as e struggle to keep up with the demand for more homes. We are already seeing prices increase simply because there is not enough housing. If the predictions come true this would see the average cost of a home in London to £1m.
The demand for homes is coming from our rapidly rising population and our population is predicted to grow considerably faster than we can provide housing. It is likely that the capital will see the biggest price hikes as people flock to the capital.
London's population likely to increase to 10 million
According to some experts the population in Londo is likely to increase to 10 million and possibly even 11 million. A report has been compiled by Oxford Economics whi also point out that it is not only hoousimg that is likely to come under pressure we are going to need more schools, hospitals and more public services.
The report has highlighted the expanding London economy is attracting economic migrants from the European Union who are seeking employment and enjoying our way of life in the capital. London definately benefits and probably could not function without these workers but more neds to be done to provide decent accommodation.