The house prices in London are expected to cost and cross £1 million, which suggests an increase in market prices by two-fold by the year 2030.
Oxford Economics has predicted a rise in prices in the capital as London’s population is predicted to grow over the years.
In addition to the growing population, it is also foreseen that London’s booming economy will outdo that of Frankfurt and Paris.
The Greater London Authority have predicted an approximate of 10 million people will be living in London by 2030, hindering the path of those who wish to enter the housing market.
The population is projected to vary around the area. It is expected to be higher in some compared to the areas around boroughs.
It is critical to account for the housing requirements of the people. To build houses, the government needs to build on land suitable for residential development that is close to infrastructure.
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