Leicester Continues as a Top Property Performer
Leicester has performed well in research into the easiest residential and investment properties to sell and buy outside of the English capital.
The study by comparethemarket.com looked at a range of factors, including the number of properties on the market and the average time it takes them to sell.
Leicester came in at number 17 in a list compiled as a result of the research, which focused on three main parameters, excluding the cost of properties. There were:
The number of days a property was on the market on average before selling.
The number of years the average owner kept the property before selling on.
The number of different estate agents operating in the area.
Canterbury in Kent came out top in the survey, with properties taking an average of 21 days to sell. The average property price in the area is just over £300,000 and competition is fierce, with 219 estate agents servicing the local area.
In Leicester, properties still only take an average of 79 days to sell, according to the comparethemarket.com figures, and there is a good choice of properties to look at if you are in the market to buy. This is because the figures reveal that there are more than 630 homes per 100,000 people up for sale.
The study shows that the average house price is just £215,530, which also highlights the affordability and investment appeal of the Leicester property market. Add to this the fact that Leicester was recently listed amongst the top ten most appealing cities in the country to work and live in – ranking over other Midlands locations and London – and it is easy to see why so many people are searching for their ideal Leicester home or buy to let investment property. Investors are also attracted by Leicester’s prowess as the UK’s top hotspot when it comes to the speed of rent rises.
The comparethemarket.com study found that Liverpool homes took the longest to sell in the country, as properties spent an average of 108 days to exchange of contracts and completion. House prices, meanwhile, average at just over £165,000 in the city, and there are 1,444 homes for sale per group of 100,000 people, which is well above all other locations on the researchers’ list.
These figures compare dramatically with the English capital, where the average property price now sits at above £630,000 and the average home takes almost three months to go from viewing to contract exchange.
If this new information has prompted you to get on the Leicester property ladder, make your next move or simply find out more about what our great city has to offer, get in touch with the Keywest team today.