London house prices 'could double in the next 15 years to £1M'
May 19th 2015
The average cost of a home in London is on course to breach the £1m level by 2030 as house building struggles to keep pace with a rapidly rising population, a leading consultancy is predicting. Oxford Economics warned that affordability problems in the capital would intensify even further if the expected increase in demand for housing coincided with a widening of the gap between rich and poor. In a report for a consortium of private sector clients, the consultancy said the forecasts for population and jobs growth made by Boris Johnson were too cautious. The London mayor predicted last year that by 2036, London’s population will have increased from 8.5 million today to 10 million. Oxford Economics said it was likely to be 11 million.
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London house prices 'could double in the next 15 years to £1M'
May 19th 2015
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The average cost of a home in London is on course to breach the £1m level by 2030 as house building struggles to keep pace with a rapidly rising population, a leading consultancy is predicting. Oxford Economics warned that affordability problems in the capital would intensify even further if the expected increase in demand for housing coincided with a widening of the gap between rich and poor. In a report for a consortium of private sector clients, the consultancy said the forecasts for population and jobs growth made by Boris Johnson were too cautious. The London mayor predicted last year that by 2036, London’s population will have increased from 8.5 million today to 10 million. Oxford Economics said it was likely to be 11 million.
London house prices 'could double in the next 15 years to £1M'
May 19th 2015
The average cost of a home in London is on course to breach the £1m level by 2030 as house building struggles to keep pace with a rapidly rising population, a leading consultancy is predicting. Oxford Economics warned that affordability problems in the capital would intensify even further if the expected increase in demand for housing coincided with a widening of the gap between rich and poor. In a report for a consortium of private sector clients, the consultancy said the forecasts for population and jobs growth made by Boris Johnson were too cautious. The London mayor predicted last year that by 2036, London’s population will have increased from 8.5 million today to 10 million. Oxford Economics said it was likely to be 11 million.
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