For obvious reasons such as Brexit and political uncertainty, house price growth last year was a little stagnant. In fact, figures shared by Post Office Money, found by analysing ONS data, shows there was an increase of only 0.9% across the UK. This saw the average home in 2019 cost £282,713. But the figures also reveal a couple of regions across the country where growth outstripped the national average and reached double figures. We look at some of these areas and the new build homes you can find there…
Where house price growth was the most prosperous
The figures shared by Post Office Money reveal that properties in Leicester, Stockport, Bedford and Nuneaton achieved double-digit growth. In fact, the Midlands and the North are continuing to show signs of significant house price growth. Why? Simply, the locations still offer affordability for buyers. And that’s first-time buyers as much as those looking for mid-term investments. They’re also in good locations for accessing major cities, with strong transport links nearby.
The strength of the Midlands and the North
We’ve seen for a while, the continued growth across the North and the Midlands despite the slowdown in the South. From cities like Sheffield and Leeds to those in Nottingham and Birmingham, there’s ample demand for properties. And this is keeping prices resilient. First-time buyers especially are squeezed out of options in the South and are looking to locate further afield. They are choosing areas which are affordable, offer more for their money and from where they can easily make the daily commute.
Why Leicester is proving successful
House prices in Leicester smashed the national average in 2019, with house prices in the region increasing more than any other city. Factors behind its growth success lie in the fact the region has high levels of employment, as well as excellent amenities and green spaces to enjoy. For commuting professionals, trains run straight into London at just over an hour journey time. Having two universities in the city, many students are choosing to settle in the region and take advantage of the opportunities for first-time buyers. One thing’s for sure, it’s a good time to buy in Leicester. That goes for young families and investors alike.
New build homes in Leicester
One of the new developments proving popular in the region is the City Heights development from Barratt Homes. With a choice of 2, 3, 4 and 6-bedroom homes, the development has a very convenient Leicester city centre location. It’s ideal for first-time buyers, investors and those with larger families. A number of schools are nearby and of course the excellent transport links to other major cities. Amenities such as the fabulous Abbey Park, are a short walk away. Likewise, supermarkets are within walking distance. It’s a development not to be missed if you’re interested in settling or investing in property, in Leicester.
This is The Haversham, a 3/4-bedroom home from Barratt Homes at City Heights in Leicester. The property features a detached garage and driveway parking for 2 cars. Inside you will find an open-plan kitchen to the ground floor with French doors opening to the garden – perfect for entertaining. There is a study room to the ground floor, which could be used to make up the fourth bedroom. The first floor features a private lounge as well as the master bedroom with en suite bathroom. The second floor has two further double bedrooms and a family bathroom.
First-time buyers will benefit from saving on stamp duty costs as this property comes under the £300,000 threshold. Help to Buy is also available for first-time buyers with only a 5% deposit required.
See more properties available at City Heights here.
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