Revised Cebr forecasts show that a typical house in the UK is expected to cost £225,000 in 2013, 2.9% higher than in 2012 and a record high. By 2014, the leading economic forecaster expects the typical UK home will cost 234,000, up 3.9% on 2013.
Daniel Solomon, Cebr Economist and main author of the report, said:
“Government support and an improving economic climate will provide an invigorating shot in the arm for the housing market over the coming years.
This is not a case of houses being built on the sand. The housing market recovery we are seeing rests on firm economic and demographic foundations – at least for now. Talk of a house price bubble is premature.