Mortgage holders are being warned that house values are not forecast to tip £300,000 for another two years - far slower than many will hope. According to research by easyMoney forecasts that the average UK house price won’t hit the £300,000 threshold until August 2025.

The study, reports BirminghamLive, makes sobering reading for mortgage holders in the UK, with HSBC, Santander, Nationwide, Barclays, Lloyds, Natwest, and TSB among the most popular lenders in the UK. The study has revealed how the UK property market has performed since the 1970s based on analysis of historic data and forecasts that the average UK.

It looks at when, between 1976 and now, the UK house prices have hit milestone marks. It shows that the average UK house price hit the £10,000 mark for the first time back in January 1976.

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It then took 4,565 days, or 12.5 years, for this average to increase to £50,000, which it did in July 1988. Then, it then took 4,963 days (13.6 years) for the average price to climb from £50,000 to £100,000, which it reached in February 2002. The £150,000 benchmark for the average UK house price was then reached by August 2004, taking just 2.5 years or 912 days.

Following this, it took another 11 years (3,986 days) to reach the £200,000 milestone, which came in July 2015. Following the financial crisis, the subsequent market recovery, it took just 5.6 years (2,070 days) to reach the next milestone of £250,000 in March 2021. Today, the average house price in the UK sits just shy of £290,000, so it would not be unreasonable to think that the next milestone of £300,000 will imminently be upon us.

But easyMoney estimates that, due to cooling market conditions, it will actually take until the end of August 2025 to reach the £300,000 mark. This would mean a space of 4.4 years between the £250,000 and £300,000 thresholds.

However, it has been said that despite the cooling conditions, the predicted timeframe is less than the 5.6 years it took for the average price to grow from £200K to £250K. Jason Ferrando, CEO of easyMoney says: “On a short-term basis, the UK housing market is certainly susceptible to wider economic ebbs, flows, and woes. But when you step back and look at the market’s long-term performance, it’s clear how strong, reliable, and resilient UK housing is as an investment asset.

"As such, if investors are attracted to the property market, we would encourage them to shake off any concerns about the immediate economic landscape and instead look at long-term performance and consistency of the market's performance over the last 50 years.”

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