House Prices in Leicester: What influences your property price

House Prices in Leicester: What influences your property price

Leicester provides its residents with a lot of popular suburbs and city centre living and is home to almost 350,000 of us! Today Leicester is predominantly a residential area mainly aimed at families, with a big focus on creating a happy family environment and a great place to live.

Discussing house prices in Leicester has become part and parcel of every day conversation topics in our area, but just what decides how much your home is worth? There are a number of factors which determine house prices, some are logical, based on economic theories and population density whereas others are based on more vague factors such as the feel of the neighbourhood around your property and predicted expansion growth in the future.

Facilities and amenities which affect house prices in Leicester

• Location – Location is key to setting a selling price. Properties that are in good access to the city centre with reliable public transport links or close to the beautiful Leicestershire countryside tend to sell at a higher price. Currently people are interested in properties than can provide a great balance for both work and their social lives.
• Schools and nurseries – At Open House Leicester we can’t deny that a catchment area for an outstanding or good school can increase the price of your property. Although this is something that is out of you control, we have seen examples of homes in good school catchment areas selling a lot quicker and getting a lot more interest.
• Property condition and appearance – The appearance of your property and the condition presented really can help to increase the price of your property. A lot of people like to buy properties that they can move straight into and do any works as and when required. Updating bathrooms, kitchens, redecorating and transforming your garden can all significantly add to the value of your home, but make sure you don’t over invest.

Current house prices in Leicester

According to industry statistics the average price for property in Leicester stood at £217,637 in September 2017. This is a rise of 0.54% in the last three months (since June 2017) and rise of 2.78% in the last 12 months.

In terms of property types, flats in Leicester sold for an average of £135,000 and terraced houses for £153,500. This then jumps to £191,000 for semi-detached properties and £335,000 for detached properties. There is no future certainty of house prices on Leicester as nobody can predict how the housing market will pan out over the next few months and years, but properties prices look steady and on the increase.

Before you put your Leicester home on the market, it is important you consider how to make the best of your property. We would not recommend big changes such as renovations or redecoration as most of the time a little turns out to be a lot. House prices in Leicester are constantly changing, but it is important that you do what you can to ensure you get the best-selling price.

Do your research, keep an eye on local news, look at other properties in the area and talk to us at Open House Leicester – we’re more than happy to help you on all aspects of selling your home. Call 0116 243 7938 or email info@openhouseleicester.co.uk

Written by Rahul Jain

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