Keywest Estate Agents / May 26

Maximise the Price Potential of Your Leicester Property

Are you thinking about selling your Leicester flat or terraced or semi-detached home? If so, a major profit could be on the cards if you allow the Leicester property specialists at Keywest help you achieve the best possible price potential.

Not only does the Keywest team have all the knowledge, experience and expertise needed to secure you the best possible results from a sale, but we are perfectly placed to help you make the most of a major rise in flat, terraced and semi-detached prices in the area.

New research from Halifax reveals that price growth for apartments has outperformed every other type of property since 2009 in Britain, while the East Midlands has experienced the leading performance for semi-detached homes and market-busting sales of terraced properties.

The Halifax figures show that flat prices shot up by an average of 53 per cent in the UK over the last seven years. This compares to 39 per cent growth for all the other property types.

This equates to an average rise of £1,008 a month, going up from £159,292 in the last quarter of 2009 to the £243,936 in 2016.

Terraced homes have experienced the next biggest rise in average prices, showing an increase of 43 per cent. Detached homes showed the smallest rise but still recorded an average increase of 19 per cent.

The rise in the value of flats has been helped by activity in the capital, which has seen a rise of 65 per cent since 2009. Here, flats represent almost half (48 per cent) of total sales, compared to an 11 per cent British average.

If the performance of flats in the capital is not included in the figures, terraced homes in Britain have shown the greatest price growth at 41 per cent, with flats at 35 per cent.

Regionally, apartments have performed the best of all property types in five out of eleven areas, although terraced homes are cited as the best-performing properties in the East Midlands (at 35 per cent), East Anglia (46 per cent) and London (73 per cent).

The East Midlands have also seen the best increase in the value of semi-detached homes in Britain with a rise of 35 per cent, compared to 30 per cent in the West Midlands and 20 per cent in Wales.

Six out of ten home sales in Britain are either semi-detached or terraced properties. Both types represented 30 per cent each of all the home sales seen in Britain during 2016. These figures show a slight change from 2009, when terraced properties represented 32 per cent and semi-detached properties accounted for 29 per cent of sales.

The Halifax figures also show the increasing popularity of semi-detached homes for first-time buyers. In 2009, terraced properties accounted for 42 per cent of all purchases by first-timers, but this had fallen to 37 per cent by 2016. In contrast, sales of semi-detached homes went up from 28 per cent to 30 per cent.

Outside London, flats are still the most affordable property choice in Britain, with a UK average of £167,144. Terraced properties follow with a price average of £185,116. In the East Midlands, Halifax says that the average flat costs a very affordable £123,561.

Are you looking to buy or sell your property in Leicester? Call Keywest today at one of our offices: Hinckley Road 01162 544 555, or Queens Road 01162 544 543. Let us help you get moving!