The housing slump is over, according to the Centre for Economics and Business Research (CEBR).
The think tank has predicted that by 2015 house prices across the UK will have risen on average 14pc – to an all-time high.
A new report from the CEBR predicts that the average British home will be worth more than £200,000 by 2015, up from the current value of £176,000. This is nearly £10,000 more than the previous house price peak in 1997, when the average home was worth £191,200.
This prediction is less aggressive than the previous forecast from the CEBR in May, when it predicted that house prices would grow 16pc over the next four years.Source: The Telegraph