Bank's Miles warns first-time buyers will be shut out from property market | Mail Online
Britain could face another house price boom, fuelled by the ageing population and the rising number of immigrants, a Bank of England expert said yesterday.
In a research paper, Professor David Miles predicted ‘a rising trajectory for real house prices’.
His report comes as the average asking price in one exclusive corner of London, the Royal Borough of Kensington and Chelsea, hit £2million for the first time.
A decade ago, the average asking price in the area was £650,600, which means it has trebled in ten years.
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