One In 20 UK Homes 'Worth £1m By 2030'

More than 5% of UK homes will be worth at least £1m and even the average house price will be 10 times the average worker's salary by 2030, a new report has found. The analysis, compiled by a professor at the London School of Economics (LSE) for Santander Mortgages, predicts the gap between the housing "haves" who already own large homes, and the "have nots" struggling to get their foot on the housing ladder, will widen. An average UK home which costs £280,000 today is expected to be worth £344,000 in five years' time and will have nearly doubled in price to £557,444 by 2030.