Prices will double over next 20 years

A report by MINT predicts the average house price will rise 100% in the next 20 years from £163,334 in 2005 to £335,674 in 2025.

The report also reveals that the trend toward delayed first marriage and rising divorce rates, which has fuelled significant growth in single person households, will continue over the next two decades.

Single occupancy has grown to 30% today but by 2021 35% of the nation is expected to be living alone. Add to that rising house costs and it seems likely that in the future there will be an even greater demand for affordable properties.

But the British obsession with bricks and mortar shows no sign of abating, with property featuring as an area of increased spending by 2025.

MINT also foresees growth in the ownership of second homes as many of us seek to become property barons.