Demand for new build properties has risen by 33% in Leicester so far this year vs the same period in 2023, with the city now one of the UK’s most popular locations for home buyers, according to the latest data from leading new-home property website, newhomesforsale.co.uk.
The website, which lists nine new build sites located in and around Leicester city centre, has also found entry prices for new builds are nearly £35,000 less in the city compared to the national property average of £284,950 [as of November 2023], with prices starting from £249,995.
Interestingly, of those searching for new build properties in Leicester so far this year, 73% are First Time Buyers, reinforcing a clear and growing demand to get onto the property ladder despite the rise seen in mortgage rates.
As a result, the region is now one of the UK’s top 10 locations for new home buyers in the UK.
Discussing this latest data, Vernon Pethard, Founder and Director of newhomesforsale.co.uk, said: “In working with housebuilders and estate agents in all regions of the UK, it’s clear to see which areas are seeing the most search demand – with Leicester in a clear top 10 position in both January 2023 and 2024.
I think the regeneration plans within the City, its central location and more affordable entry price point puts Leicester in a strong and attractive position for prospective buyers and particularly those working hard to jump onto the property ladder for the very first time.
Overall, although 2023 was a difficult year for the property market, search volume and demand still remained high, so with mortgage rates starting to fall I think 2024 will prove much more positive – with Leicester set to come out as one of the UK’s leading locations.”
Established in 1998, New Homes for Sale features over 2,400 developments from national house builders, housing associations and estate agents from across the UK and has established an unrivalled position within the new build sector.
For more information, visit: https://www.newhomesforsale.co.uk/new-homes/leicestershire/leicester/