Get ready for a wild ride in the housing market! Experts at City Index have teamed up with ChatGPT to predict house prices in 2124, and the results are mind-blowing. Hold on to your hats because AI reckons the average UK house price will skyrocket to £3.2 MILLION in the next hundred years!

That’s not all. Remember those pesky deposits? Well, they’re predicted to soar too. The average first-time buyer deposit in 2124? A dizzying £234,000! 😱

London Calling – The £10 Million Pound House

Londoners, brace yourselves! The capital is set to become even pricier, with AI predicting an average house price of a jaw-dropping £10 MILLION in 2124. To get your foot in the door, you’ll need a cool £2 MILLION deposit. Even with an estimated average salary of £769,000 a year, that’s still a huge chunk of change!

South East Remains Pricey, While North East Offers a Glimmer of Hope

The South East won’t be far behind London, with average house prices predicted to hit £5.9 MILLION in 2124. Meanwhile, in the East of England, expect to fork out around £4.4 MILLION for your dream home.

But don’t despair! There is a glimmer of hope for those looking for a (slightly) more affordable option. The North East is predicted to have the lowest average house price at £1.2 MILLION, with a deposit of around £234,000.

Salaries Lagging Behind Soaring House Prices

While salaries are expected to increase over the next century (thank goodness!), they won’t keep pace with the rocketing house prices. The average UK salary in 2124 is predicted to be around £338,000 – still a far cry from the astronomical house prices.

Is Owning a Home in 2124 Just a Pipe Dream?

With house prices predicted to be over nine times the average salary, getting on the property ladder in 2124 seems like an impossible dream for many.

So, what does this mean for current homebuyers and sellers?

• Think long-term: If you’re buying a property now, consider it a long-term investment.
• Start saving early: Those deposits won’t save themselves! The earlier you start putting money aside, the better.
• Explore alternative options: Shared ownership schemes and other government initiatives could become increasingly important in the future.

One thing’s for sure: the housing market of 2124 will be a very different landscape than the one we know today. Buckle up, it’s going to be a bumpy ride!