If you buy a property in Leicester or the east midlands now, you could see its price rocket by around 25 per cent over the next five years, according to a major force in the property world.

Rightmove, in collaboration with the Oxford Economy consultancy, predicts that a property in Leicester and the East Midlands currently valued at £138,787 will be worth £173,503 by 2019.

The UK’s largest property website says that far from slowing down, the British property market is set to boom, and average prices for England and Wales will see a 30 per cent increase over the next half decade to hit £318,000 and in excess of £715,000 in London.

Rightmove is predicting that, breaking from the norm that has dominated for more than ten years, the capital will not see the greatest price hikes. Instead, it is forecasting that Southampton will enjoy the biggest boom. It says prices are likely to jump by an astonishing 43 per cent in the city, closely followed by the likes of Swindon, Brighton and Luton.

In contrast, Rightmove is predicting just 13.6 per cent price rises in the wealthiest areas of west London. North London’s Enfield borough could buck the trend, however, as price gains of 39 per cent are expected.

This would lead to the average property price growing from £381,000 to an incredible £531,000 in just five years. This equates to a hike of £575 each week over the next half decade.

The data comes from what Rightmove is describing as ‘the most comprehensive’ forecast of house prices ever created.

It is based on economic and property data and not on short-term market performance or opinions and uses forecasting models employing analytics, surveyor valuations and sold and asking prices.

The Oxford Economy figures also take into account factors such as a shortage of new homes, a recovery in incomes and a growing population.

Expected Rises Across the UK Between 2014 and 2019

London – 32 per cent – £539,903 to £715,267
East – 35.6 per cent – £252,111 to £341,791
East Midlands – 25 per cent £138,787 to £173,503
South West – 31.8 per cent – £198,050 to £260,938
North West – 24.3 per cent – £140,163 to £174,289
South East – 37.3 per cent – £275,842 to £378,636
West Midlands – 26.5 per cent – £152,256 to £192,644
Wales – 25.9 per cent – £140,294 to £176,695
Yorkshire and the Humber – 27.9 per cent – £146,440 to £187,247
North East – 25 per cent – £121,852 to £152,363

If you would like to invest in property in Leicester and cash in on the price increases forecast for the next 5 years, call Keywest on 0116 254 4555. Our local property knowledge will mean that you can make the most of any property investment.