The number of million pound properties in the UK is expected to be at least 300% higher by 2030, according to Santander Mortgages.
The report shows that 25% of homes in London are expected to be valued at £1m or more and around 7% in the South-East of England.
James Skidmore, head of Mortgages at AAG, comments “These predictions indicate that property is a good investment in the long term.”
“With interest rates still low, it’s a good opportunity to invest in property now – whether it’s your first home, another step up the property ladder, or a buy to let.”
You could be reaping high rewards in 15 years times.
Your home or other property may be repossessed if you do not keep up repayments on your mortgage.