11% house price rises put Leicester in the UK top five
01-07-2014
By Leicester Mercury By Gemma Peplow
Average house prices in Leicester increased by 11 per cent in 2013, putting it in the top five cities in the country.
Nationwide placed Leicester fourth for growth, behind Manchester, London and Brighton.
Latest figures from the building society showed the average house price in Leicester jumped by 11 per cent last year, from £152,052 to £168,778.
In Manchester, prices were up by 21 per cent, while London and Brighton experienced rises of 13 per cent and 12 per cent respectively.
The average UK house price rose by 7.1 per cent, to £174,444.
John Waters, managing director of Taylors estate agents, of Syston, said: "We all know Leicester has a lot to offer as far as location is concerned and, compared with other areas, prices are not as high.
"Properties are very good value in Leicester. There's a cross-section of industry, access to major roads is good – and we've got the best football team."
He said while there had been big price rises in some parts of Leicester, in others "that hasn't been the case".
"In general, the market was improving from mid-January last year," he said.
"But, with more buyers and not so many properties on the market, there was a shortage of choice, resulting in prices increasing.
"In 2014, the market will still be good, but I have a feeling there will be more choice.
"A lot of people have put a move on hold for the past five or six years, due to the economy.
"There is definitely more confidence now. The market is improving but not at the levels we've seen before. I don't think we will go back to that."
Mayor of Leicester Sir Peter Soulsby said: "It shows Leicester as a city is on the up. I think Leicester is beginning to be recognised as a city that has a lot going for it.
"I'm always cautious about these things, because they're a snapshot of a particular time and house prices can change at different speeds for lots of reasons, but even so, it's a welcome boost for the city.
"House price increases are a mixed bag, though. They are obviously good news for those who have a house, but not so good for first-time buyers."
Leicester South MP Jon Ashworth said: "Leicester is a great city to live in. There's a good quality of life here.
"We are also growing rapidly, so there will be an increased demand for housing here."
But Mr Ashworth said: "Nationally, we need to see the Government increasing house building so people can get on the housing ladder."