House prices to rise by 20% in next four years

The average house price in the UK is set to increase by over 20% to £236,691 by the end of 2019, according to a forecast from BNP Paribas Real Estate.

The global property adviser calculates that by the end of this year, the average house price in the UK will have increased by 4.7% to £206,314.

The forecast suggests that the strongest growth in the next four years will occur in the service sector-dominated economies of the south of England.

BNP Paribas predicts that prices in the South West will have risen by 33% by the end of the decade and that during the same period average prices in the South East will increase by over 27%.