January 16, 2019

Leicestershire property prices to continue to rise in 2019

Against a downbeat national backdrop of sluggish growth and political uncertainty throughout 2018, the East Midlands has again bucked national trends to stand out as a bright spot in terms of house price growth.

The good news is that this upward trend is showing no signs of slowing down in our area. Analysts at HomeTrack identified several East Midlands’ locations as showing the most promise in terms of growth value in 2019. Conclusions were drawn from research into areas that included:

  • The time taken for properties to sell
  • The difference between asking price and final sales price
  • The levels of house price inflation over the past year and since the economic crash of 2008.

Blaby is the UK number 7 for growth

Although house prices in Leicestershire in general are on the rise, one of the standout stars of the research was the district of Blaby which came 7th in list of UK local authority areas set to enjoy the best property price increases over the coming 12 months thanks to a strong underlying demand for houses. At Andrew Granger & Co, we are not at all surprised to hear this news as Blaby, with its great links to the city and beyond and wide choice of high quality housing to suit all tastes and budgets is a perennially popular area to buy a home. This applies both to those local to Leicestershire and increasingly, families and professionals looking to relocate from more expensive areas such as the South East.

The properties we have available in Blaby tend to sell quickly so if you are looking to buy in this sought-after area, it’s always worth giving us a call to discuss the options currently available. Equally, if you have a property to sell in the Blaby district, you can trust Andrew Granger & Co to use our extensive expertise to ensure you capitalise on the Blaby property boom by securing the optimum price for your home.

The East Midlands ranks joint second with Wales for house price growth

New figures from Nationwide for the fourth quarter of 2018 showed some more positive news for our region. The East Midlands and Wales enjoyed a 4% rise in property prices, coming second only to Northern Ireland which reported a hike of 5.8%. Again, these rises come in the context of a gloomier nationwide picture, with prices in the Outer Metropolitan area of London falling by 1.4% in the same period of time.

What’s in store for 2019?

As we begin the year, the uncertainty around Brexit cannot be ignored. However, with a combination of unemployment levels falling to their lowest levels in over 40 years in 2018 and borrowing costs still low, many experts are optimistic about the 12 months ahead, even in areas where growth has stalled. Indeed, with mortgage lenders keen to lend to those who meet the affordability criteria, there is no reason why those in a position to make a move should feel discouraged. Certainly, the research from HomeTrack showing the projected growth across the East Midlands for the coming year means those of us lucky enough to own property in Leicestershire should be feeling optimistic.

Local property experts on your side

If you are thinking of selling a property in 2019, please contact us for a no-obligation valuation where we will use our specialist local experience to value your property at a level that will both attract buyers and ensure you get the best possible price. Please get in touch with us today at one of our three locations:

Leicester 0116 242 9922

Loughborough 01509 235 534

Market Harborough 01858 431 315