Things aren’t looking up guys. If you had high hopes that London’s property prices would miraculously drop just in time for you to nab that 3 bed house in Clapham (for under a million squids), it may be time to readjust your life goals. EMoov have mapped out the predicted state of property prices in the capital by 2030. The result is pretty painful – apparently the average price tag of a home in London could surpass £1 million by then. Obviously, Kensington and Chelsea are likely to stay the most expensive places; in 14 years time, it’s estimated that average values will leap from £1.9 to a whopping £3.4 million. Yowzzzers. Whoever though that £1 alone would look relatively cheap?
To get these results, researchers applied the 84% increase that happened to house prices from 2000 to 2015 and projected it onto the next 15 years. *Gulp*. EMoov wanted to illustrate how London’s already sky-high property market would look if house prices “continue to spiral beyond affordability”. Well they certainly illustrated it. We’re just going to go cry now.