Leicester house prices rise faster than any other English city

Leicester is among two city’s in the East Midlands which have the fastest growing house prices in England.

The figures, which have been released by online estate agent Zoopla, show Leicester house prices rose faster than any other city in England.

The report also highlights house prices across all English cities have risen above the credit crunch for the first time since 2007.

This growth is being led by the East Midlands, with house prices for both Leicester and Nottingham now around a third higher than where they were in 2007.

The annual price growth in Leicester was 5.3%, with the overall stock of homes available in the city reducing by 6% in the year.

This takes the average house price in Leicester to £186,200 – an increase of 33% in the last thirteen years.

This is also reflected in the rest of the country, with demand outstripping supply, helping to exert upward pressure on house prices.

On the supply side, the stock of homes for sale rose by an average of 2.6% year on year in January 2020. This contrasts with the strong bounce in demand, which was up by 26% over the same period.

Richard Donnell, Research and Insight Director at Zoopla, said: “Strong demand and attractive affordability are sustaining above average price growth in Leicester and Nottingham despite an increase in supply.”

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