Waltham Forest house prices set to rise fastest in country in next five years
12-06-2015
Hoe Street, Walthamstow, has the highest density of estate agents according to EMoov.co.uk.
East London and West Essex Guardian Series: Photograph of the Author
Douglas Patient, Reporter, covering Wanstead and Woodford.
House prices in Waltham Forest are set to rise fastest in the country over the next five years, according to new research.
The borough is set to experience growth around 20 per cent by 2020, estate agent Savills believe.
Waltham Forest has seen this because of a surge in demand from buyers priced out of more central locations.
According to Savills, in the next five years the average house price will be £471,600.
Across the border in Redbridge, a 17 per cent rise is expected, taking the average house price to £451,620.
However, Lucian Cook, head of Savills residential research, said the predictions are largely dependent on the scale of interest rate rises during the next five years.
He said: “If rates rise too quickly, mainstream house price growth will be quickly curtailed.”
"On the flipside, if rates remain low for too long, there is a risk that prices will rise too far, creating affordability issues further down the line when rates do eventually increase."