House prices to soar 10 per cent next year
London house prices are set to rise by another 10 per cent next year.
The projection from Britain's biggest building society, Nationwide, will cheer homeowners but make it even harder for first-time buyers to get on the property ladder.
Prices are expected to be bolstered right through next year by a flood of City bonus money and by rebuilding in east London for the 2012 Olympics.
The surge will ripple out from London, yielding national house inflation of between five and eight per cent next year.
By this time next year the price of a typical home in Britain will have rocketed from £172,185 last month to £186,000.
In the capital, where the average home already sells for around £300,000, asking prices have already risen by 23.6 per cent this year, according to estate agent website Rightmove.
