(1888PressRelease)
August 25, 2007 - London (loans-park) - According to a research by the National Housing Federation (NHF), the average price of a home in England will go past the £300,000 mark in the coming five years.
The home prices in the recent years have registered a deep rise, giving the homeowners an advantage in the form of seeking more secured loans. The current average home price in London is £318,864. If the trend continues, prices may go near the half a million mark in London by 2012.
The average home prices in the regions like the North West and Yorkshire, which were traditionally regarded as cheaper, are likely to break through the £200,000 level.
NHF chief executive David Orr said: “Our report shows that continuing house price rises and the resulting housing crisis are set to stay with us for a long time”.
However, the homeowners view the surge in prices as good news. The increase in the value of homes means that they can afford to take more secured loans against their homes.
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