There has not been a better time for many years to put your British house on the market if you want to get the best possible price, according to new figures just released.

The latest figures released by the Office for National Statistics (ONS) showed that every single region of Britain has seen a rise in property prices in 2014, and July marked the fastest annual surge in values for seven years. The average property price has gone from £245,000 to £272,000, a rise of 11 per cent, while in London it has risen by £76,000 in a year to hit £514,000. This means that people choosing to sell now are likely to receive a price for their property that they may have only dreamed of less than a decade ago.

Starter homes in the UK have seen an even bigger rise than the overall average, with a growth of 13.5 per cent compared to the previous year, marking the largest annual increase since 2005. This is great for sellers wanting to move on from this type of property and also looks set to keep the rental market buoyant, with some people opting to let properties rather than to buy.

Breaking the figures down, the ONS data reveals that the average property price in England has risen from £255,000 to £284,000, whilst in Scotland the average home now costs £198,000, up from £183,000. The Welsh average has gone up from £160,000 to £171,000, and Northern Ireland’s has gone up by £7,000 to reach £139,000.

Further good news for sellers also came in a recent announcement from property experts at website Rightmove. They claim that there are strong signs that there will be increasing amounts of activity in the housing market over the coming months. There is no doubt that many people will be tempted to enter the selling marketplace when there is the potential for such notable profits to be made.

Brandon Lewis, the current housing minister, has also spoken positively about the state of the British property market, stating that house building has now reached its highest level for seven years and is still on the up. He added that since 2010 a total of 200,000 affordable homes have also been added to the market. He said that the government continued to be committed to keeping interest rates down and further improving the property market as part of its long-term economic plans.

If you are considering selling or buying a property in Leicester, speak to Keywest. Our experienced property team will help guide you through the process from start to finish. Call today on 0116 254 4555.