The think tank, Centre for Economics and Business Research (CEBR), has predicted that house prices will rise by 14% over the next four years.
The new report from the CEBR predicts that by 2015 the average house price in the UK will be £200,000, a steep rise from the current average of £200,000. The last peak in house prices was in 1997 when the average home was value at £191,200.
The CEBR has downgraded its previous forecast; in May it suggested that house prices would rise 16% by 2015.
Lack of demand
The CEBR has cited lack of supply as the main driver for the ...