Perfect Time to Be a Property Vendor in Leicester
Leicester has bucked a national trend and is offering the brightest possibilities for homeowners or investors looking to sell their properties in the current market, so it really is the best time to be a Property Vendor in Leicester
Property prices may have fallen across the country, but Leicester continues to offer great returns on your investment if you choose to sell your home or buy-to-let with Keywest right now
New data has revealed that property prices in Wales and England overall went down for the fifth month in a row, but some cities went against the grain, including Leicester, which recorded the two countries’ fastest growth.
The new figures reveal that, overall, average prices went down 0.2 per cent during July to reach £302,251. Despite this, average prices are still up 1.6 per cent compared to a year ago, with all English and Welsh regions recording ‘modest’ annual growth.
Nationally, a reduction in activity has kept prices down this summer. There were 75,000 fewer property activities in July when compared with the month before and a six per cent fall compared to the seasonal average. It is believed that transactions over the first seven months of this year are four per cent down on the same time in 2017.
The biggest annual drops were experienced in the City of London, where prices went down by 19.4 per cent, although only a relatively small number of transactions were affected. Southwark and Hammersmith and Fulham saw prices fall by 11.7 per cent, but sales activity involving the sale of new-builds over previous years and months in Hammersmith and Fulham, as well as in Westminster, can explain this decrease to some extent.
The average property price in the English capital now sits at £625,529, according to figures for the end of June, and prices have gone down in 21 of 33 of the boroughs on a year-on-year basis (almost two-thirds).
Prices have also fallen by 1.7 per cent annually in Kensington and Chelsea, but the borough is still the most expensive part of the capital. According to the latest figures, the cheapest borough remains Barking and Dagenham, where there is an average property price of £308,547. This figure has gone up by 1.8 per cent compared to last year.
In contrast, Leicester offers a hugely affordable option for homeowners and property investors, with the promise of great potential returns when it comes time to sell. If you want to take advantage of the opportunities on offer, get in touch with Keywest today.