Labour councillors say Barnet is ‘failing’ on housing affordability targets as figures reveal prices could increase to £1m by 2030.

The UK’s leading fixed-fee online estate agent, eMoov, released housing figures last month, showing that Barnet house prices could escalate to £1m in just over 14 years.

In April this year, eMoov reported that the average house price was £625,000 in Barnet and it was the only London borough that saw an 11% increase in property demand since January this year.

Labour Councillor Ross Houston of the West Finchley ward, previously said at a Policy and Resources committee meeting, that Barnet is “failing on its targets for both building new homes and building new affordable homes.”

Cllr Houston said: “Labour councillors have been warning for some time that Barnet house prices are moving beyond the reach of all but the wealthy. These figures confirm this.

“What is more the government’s only solution is ‘Starter Homes’ which is a policy that simply won’t work for Barnet families. It is not just Labour councillors who think this.

“The Bishop of London, who recently visited a development site in Barnet and asked about the cost of housing. He was told they were building the government’s ‘Starter Homes’. When he asked what the price was he was told £450K. His comment was “that’s not my idea of a Starter Home!”.

“The Conservative government and Conservative-run Barnet Council need to live in the real world and realise that future generations are being priced out of our borough. Barnet Labour set up a Housing Commission to suggest some practical solutions – perhaps they could start there.”

Barnet’s neighbouring borough Brent, is estimated to increase to £890,711 and Harrow could reach £772,495.

Statistics also showed that UK properties had increased by 84% between 2000 and 2015.

Founder of eMoov, Russell Quirk, said there has been “extreme growth” in UK property in the past 15 years.

Mr Quirk said: “Although this research is only a projection of what may happen by 2030, it is safe to assume that with prices continuing to spiral beyond affordability, history could well repeat itself.

“Getting on the London ladder is already out of reach for the majority and the picture painted by this research gives little hope for those aspiring to do so in the future. inevitable.

“However, when you consider that in 15 years the price of property could almost double, it makes for a worrying outlook for the majority.

Are you concerned over future housing prices? Send your thoughts to bethan.marsh@london.newsquest.co.uk