INVEST IN THE BEST
Gerri Moore, Director of Hunters Narborough and Stoneygate provides her insights on Leicester’s housing market, highlighting the best places to invest.
With Nationwide naming Leicester as the fourth most likely city in the country for house price growth at the beginning of 2014*, Gerri Moore, Director of Hunters Narborough and Stoneygate, takes a closer look at the city’s housing market and whether this has been reflected in the first half of the year.
“2014 has been an excellent year for the housing market in Leicester and it would be safe to say Nationwide’s predictions were correct. The city’s property market has seen a steady rise in prices since 2009, however, at the beginning of this year we saw a definite shift, causing house prices to rise between 7-9%. This shift can be largely attributed to a larger range of properties being released onto the market than ever before. Whilst many people had put moving home on hold for the past five or six years due to the economy, vendor’s confidence appears to have now been restored and the market has been replenished with properties that are suitable for a range of buyers.
“Unsurprisingly, we have seen investors flood the market due to low interest rates and high yields as the rental market stays strong. Leicester’s population is fairly transient as there are a number of large organisations who employ huge amounts of graduates who seek out rental accommodation in the city.
“Properties within the city centre will fetch yields between 5-6%, however if you look a little further afield, the area of Narborough is a perfect honeypot for investment. The large village in South Leicester is situated near several major transport corridors and benefits from Narborough railway station, making it the ideal location for those looking for an easy commute to London or Birmingham. Investors frequently snap up three bedroom semi-detached homes here which can be found at £155,000, or two bedroom terrace houses which start at around £135,000. We are currently selling a fabulous three bedroom semi-detached home in Narborough on the market for £150,000.
“The cosmopolitan Stoneygate is another good choice for investors. The area boasts easy access into Leicester city centre and enjoys a busy and vibrant atmosphere with its designer shops and chic restaurants and bars. The area is slightly more expensive than Narborough, but worth the extra investment. The village is dotted with beautiful period properties, such as this four bedroom detached home on Sandown Road, on the market for £415,000.”
Hunters opened its first office in York in April 1992. Today Hunters is the UK’s largest and fastest growing, estate agency network with over 100 branches around the country. Divisions include sales, lettings, auctions, survey and franchising. Hunters has won over 30 awards; achieved Investor in People certification for a decade; twice been voted Best UK Estate Agent and featured in the Sunday Times Best 100 company.
Visit www.huntersnet.co.uk for more information or contact the Stoneygate branch at:
Hunters Stoneygate, Allandale Road, Stoneygate, Leicester.
LE2 2DA Tel. 0116 272 7150 www.huntersnet.co.uk