Average London property £1m by 2030

15th May 2015

New figures suggest that forecasts for population and jobs growth in London made by Mayor Boris Johnson were too cautious and that the average cost of a home in London is on course to reach £1m by 2030 as house building struggles to keep pace with a rapidly rising population. Oxford Economics has warned that house prices in the city could more than double over the next 15 years if its housing supply issue is not solved while its population continues to increase and 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.

The Times (15/05/2015)