Average London house "to cost 500,000 by 2020"

Average London house 'to cost 500,000 by 2020': Welcomed by home owners but 'grim news' for first-time buyers Economic growth is expected to be stronger in the capitalThere is evidence of a growing 'North-South' divide in the housing market outside London By James Salmon PUBLISHED: 01:34 GMT, 11 February 2013 | UPDATED: 01:36 GMT, 11 February 2013 The price of a typical London home will hit half a million pounds by the end of the decade, according to leading economists. The average house in the capital will cost 383,000 this year and then rise more than 30 per cent by 2020, the Centre for Economics and Business Research think-tank said. Experts last night said the figures would be welcomed by home owners in the capital but said it was ‘grim news’ for those already struggling to get a foot on the property ladder.

Housing market: More misery for renters as average monthly payments are expected to jump by 4%

More misery for renters frozen off the housing ladder as average monthly payments are expected to jump by another 4% Rents expected to rise twice as fast as house prices in 2013Cost of the average home will rise by a modest two per cent | UPDATED: 09:12 GMT, 14 December 2012 Rents will rise twice as fast as house prices in 2013 as Britain’s embattled housing market endures another tough year, the Royal Institution of Chartered Surveyors will say today.