Average prices predicted to jump by 15.3%, according to Savills

A significant bounce back could be in store for U.K. real estate in the next five years, after several quarters of plummeting prices across the country, according to a report released Wednesday by Savills.

The London-based brokerage and real estate adviser expects average prices of existing homes in the U.K. to jump 15.3% between 2020 and 2024, according to the report. However, that number will vary significantly among regions, with the north likely to outperform the south.

For example, London may only see a 4% bounce back in prices in the next four years, while those in the Northwest could spike as much as 24%, according to the report. The East and South East are forecast to rise 11%.