Property prices likely to double over 10 years

Property prices in England are likely to double to around £446,000 over the next decade unless more is done to tackle the "broken" housing market, a report from charity Shelter warns.

Read: Miliband pledges cap on private rent rises

House building
The prices of a home could reach £900,000 by 2034, the report warned. Credit: PA

The research, collected by Shelter and KPMG, found the cost of a home could quadruple in 20 years if there is not a major house building programme, as 100,000 fewer homes than are needed every year are being built.

If current trends continue, the average cost of house is expected to rocket to £900,000 by 2034.

The report, titled Building The Homes We Need, maps out a programme for the next Parliament that it says would help the 2015 Government turn the tide on the shortage by raising house building levels to 250,000 a year by 2021.

Read: Cable: Home ownership 'unaffordable' for families

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Property prices likely to double in 'broken' market

The price of a home in England is likely to double over the next 10 years to around £446,000 unless stronger action is taken to tackle the "broken" housing market, charity Shelter has warned.