Official figures show that the average price of a house in England is higher than it has ever been.
According to thisismoney.co.uk, figures from the Office of National Statistics (ONS) show that the average price of a home was £245,000 in July, a rise of £3,000 from the previous month and up £11,000 compared to the same time last year.
London is leading the house price rise, with values up by almost ten per cent due to an increasing demand for housing in the capital, reports express.co.uk.
As a result of a strengthening housing market, estate agency recruitment has also increased. In the three months leading up to June, 250,000 estate agent jobs were created, meaning the industry now has a record number of staff at 241,000 employees.
Peter Rollings, from estate agents Marsh & Parsons, said demand from across the UK and abroad is pushing property prices up.
“House prices continue to rise at their fastest rate in years. The market is helped by an improving economy, low interest rates and government-backed schemes such as Help to Buy.”
Industry experts predict that the housing market is on its way to completely recovering from the financial crisis, which hit the UK five years ago.