PwC predicts house price surge

PwC's predictions for 2025 indicate a significant rise in house prices, with the average price expected to surpass £250,000 in half of the UK. The firm forecasts a national increase of 3% to 4%, making home ownership increasingly challenging for first-time buyers. In London, average prices may reach £535,000, while the South East could see £380,000. Barret Kupelian, chief economist at PwC, commented: “This year, our predictions show that the UK will undergo subtle yet significant transformation in both its internal and external environment.” Labour has promised to build 1.5m new houses in order to help address the issue. However, by highlighting a persistent lack, PwC has raised questions about whether there are enough builders to support the ambitious aim. 

The Mirror (28/12/2024)