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7th November 2014
London house prices are set to rise by almost a third over the next five years, according to a report from JLL. The report says: “There are still many very good reasons to buy and invest in London.” For the capital as a whole, JLL predict that prices will be 29.4% higher by 2019 — with the outer boroughs seeing growth of more than 30%. Adam Challis, JLL’s head of residential research, said potential buyers of more expensive properties were holding back until after the election. Elsewhere, JLL reports that the "bank of mum and dad" has replaced easy credit and high loan to value mortgages following the 2008 crash, giving people the ability to get on the property ladder. The report suggests that, in combination with the UK's housing supply crisis, this level of equity in the system is "keeping house prices high".