How much will your house be worth in 2030?

New research into the future of the UK property market has mapped out what the average house price could be across Scotland's regions by 2030.

Wednesday, 18th May 2016, 11:54 am
Updated Wednesday, 18th May 2016, 1:14 pm
How much could the average house price in your area be by 2030. Picture: Phil Wilkinson/TSPL.

Online estate agents looked at the increase in UK property values between the year 2000 and 2015 and found property prices had increased by 84 per cent during that time.

eMoov then applied the same increase across each area of England, Scotland and Wales to project how much the average property could set you back in just 15 years’ time.

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North Lanarkshire is predicted to have the lowest average house price in Scotland and the UK by 2030. Picture: eMoov

According to the formula, the highest average house price in Scotland by 2030 will be £297,222, cheaper than both Wales at £307,712 and England, where the average house price could be £457,433.

Edinburgh is still the driving factor behind property price rises north of the border with the highest of the lot at £432,468, and is joined by Aberdeenshire as the only other Scottish location to break the £400,000 mark.

At £200,600, North Lanarkshire offers the best value for Scottish buyers in 2030 and has the lowest projected average price in the UK.

North Lanarkshire is predicted to have the lowest average house price in Scotland and the UK by 2030. Picture: eMoov

Unsurprisingly London took the top spot in terms of the highest value, with the average capital house setting you back more than £1m in 2030.

Other than London, 12 counties across England will also be home to an average house price over £500,000.

“The past 15 years have seen extreme growth in the price commanded for UK property, as well as a crash as a direct result of this inflated growth,” said Russell Quirk, founder and CEO of eMoov.

“Although this research is only a projection of what may happen by 2030, it is safe to assume that with prices continuing to spiral beyond affordability, history could well repeat itself.

“Although rising prices are always good news for current homeowners, it’s extremely worrying to look at the difficulty many have in getting on the ladder at the moment, let alone with a price jump of 84% by 2030.

“This map highlights just how dangerous this current artificial inflation of the market could be in the long run, it’s not just London that will become beyond the reach of the average UK homebuyer, the issue will spread the length and breadth of England, Scotland and Wales.”

You can see the full size UK map HERE