Nick Millican: How Much Will Your London Home be Worth in 2028?

According to real estate agent Nick Millican, the prices of London’s homes will continue to increase in the coming years. But, according to many sources, those home prices will fall before they rise again. The predictions are that by the year 2028 the average home in the UK will be worth about 70,000 pounds more than it’s worth today. 

While many people predict that housing prices will fall in the first half of 2024, the stronger market and increasing demand for housing will drive housing prices back upwards in the second half of 2024 and beyond. By then, Nick Millican informs, interest rates are expected to have peaked and prices will be rising again.

It’s believed that in the second half of 2024 will send interest rates downward, which will help more homeowners be able to reenter the buying market. Nick Millican adds that the increased competition will send home prices higher than they have been in some time. 

The estimate is that the average home price will increase by 13.8% by 2028, or that the average home will cost 70,000 pounds more than it already does today, Nick Millican keeps on sharing. The population of the UK will continue to struggle to afford to find affordable homes to rent or even to find a home that they can afford to purchase. 

As Nick Millican finally states, it’s predicted that wages will not likely go up as rapidly as the cost of housing. Also, more people will be able to afford less homes based on their income levels within the next 5 years. 

According to real estate agent Nick Millican, the prices of London’s homes will continue to increase in the coming years. But, according to many sources, those home prices will fall before they rise again. The predictions are that by the year 2028 the average home in the UK will be worth about 70,000 pounds more…