House prices to jump by almost 25% over the next five years, says Savills

The estate agency says prices will rise by £84,000 by 2029 as the housing market stabilises after the ill-fated 2022 mini-Budget

House for sale
House prices set to rise, according to Savills
(Image credit: © Chris Ratcliffe/Bloomberg via Getty Images)

House prices in the UK will increase by almost a quarter by 2029 as a result of lower mortgage rates, according to Savills.

The estate agency says prices will jump 23.4 per cent, or by £84,000, over the next five years as the housing market stabilises after the ill-fated 2022 mini-Budget.

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Chris Newlands

Chris is a freelance journalist, and was previously an editor and correspondent at the Financial Times as well as the business and money editor at The i Newspaper. He is also the author of the Virgin Money Maker, the personal finance guide published by Virgin Books, and has written for the BBC, The Wall Street Journal, The Independent, South China Morning Post, TimeOut, Barron's and The Guardian. He is a graduate in Economics.