Leicestershire Property at Record Breaking High
- Leicestershire house prices are 3.1% higher than one year ago.
- Land Registry data shows sales volume is still well below normal levels.
- Property prices in Leicestershire have hit record highs and are still rising, closing the gap on the national average.
- Harborough remains the most expensive district to buy a home in Leicestershire, with the greatest YoY growth. The city of Leicester is the cheapest.
- Homes in Leicester have the greatest 10-year property price growth, followed by Hinckley and Bosworth, and Blaby.
- Across the East Midlands, house prices are expected to increase 18.5% over 2025-2028 (Savills).

Are house prices dropping in Leicestershire?
Average house prices across Leicestershire have risen 3.1% since last year, just ahead of England and Wales with 3% house price growth in the same period.
Average house prices in Leicestershire reached a new record high of £291,972 in November 2024. More recent figures are not yet available from the Land Registry, which publishes its data with a slight delay. However, online agents Rightmove are giving their current average sold prices for Leicestershire at £294,861, suggesting house prices are still climbing further across the county.
Worst September for property sales on record
September was Leicestershire's quietest on record for property sales. The last time Leicester had property sales in any single month was in April and May of 2020, when the country was in lockdown. Property sales volume in Leicester through 2024 was comparable to the aftermath of the 2008 economic crash.
Will there be a UK recession in 2025?
The Quarterly Economic Forecast (QEF) predicts the UK economy will grow by 1.3% in 2025 and 1.5% in 2026. Source: British Chambers of Commerce (BCC).
This, however, is well below the pre-pandemic average. NEISR estimate that Britain's poorest households will not recover fully until 2027.
How does the Bank of England affect the Leicestershire Housing Market?
Borrowing has been returning to a more affordable level, but very slowly. The November cut to 4.75% means that the best fixed-rate mortgages are positioned between 4-5%. We expect the base rate to fall further in February, despite inflation creeping slightly over the Bank of England's 2% target.
Thousands of remortgagers and home buyers in Leicestershire and the rest of the country are waiting with bated breath for the cost of borrowing to come down, allowing them to buy, move or remortgage. As this allows the market to begin moving again, prices will be driven gently upward, particularly in more affordable areas.
The graphs above show that house prices are rising again already. Capital Economics forecast that the base rate will fall to 3.5% by early 2026.
Are you thinking of buying a property in Leicestershire?

Melton has the most active property market
Melton, on the more affordable end of the scale and with the cheapest flats and maisonettes in Leicestershire, was just 9% down on the volume of sales compared to the same month last year, closely followed by North West Leicestershire (with the cheapest detached, semi-detached and terraced houses in the region), at 20% down. Harborough, by far the most expensive district, was down by a massive 73%.
These numbers certainly suggest that buyers are following the bargains. The total number of property sales was already down by roughly half in 2023 versus 2022, so a further fall of 34% across Leicestershire compounds a very sluggish property market under an ongoing cost of living crisis.
Where is the poshest place to live in Leicestershire?
Harborough has the highest prices for every property type, and houses (not flats and maisonettes) in the district cost even more than the national average.
Market Harborough was named the best place to live in the Leicestershire and Rutland region as voted by Muddy Stilettos in 2022 and one of the best places to live in the country according to The Sunday Times in 2023.
Also in Harborough, Billesdon is a large village with picturesque landscapes, traditional pubs and a tight-knit community.
Where are the cheapest houses in Leicestershire?
The cheapest average house price by district is in Leicester at £234,591.
Leciester is a friendly and well-connected city with outstanding schools, affordable housing, three universities, sports, culture and quality jobs.
The cheapest detached, semi-detached and terraced houses are in North West Leicestershire, while the cheapest flats and maisonettes are in Melton.
House prices in Leicestershire are higher than ever before
Average property prices in Leicestershire have reached £291,972, the highest on record for the county. Every district peaked in October or November except for Hinckley & Bosworth and Melton, which scraped just a few hundred pounds under their record highs.
It is likely that many districts in Leicestershire have since beaten these records again, as we will discover with the release of more Land Registry data.
Harborough property prices soar
Harborough (+7.1%), North West Leicestershire (+4.5%) and Blaby (+3.3%), all saw growth outperforming the region and wider country.
Charnwood (+2.7%), Leicester (+1.5%) and Hinckley & Bosworth (+1.3%) saw modest price increases, but house prices in Melton (-0.2%) and Oadby & Wigston (-0.6%) are slightly lower than the same month last year.
Long-term Leicestershire property market investment
Slow and steady wins the race. Despite being the cheapest district in the region, the average property price in Leicester has ballooned by 79% in ten years, followed by Hinckley & Bosworth (+73%) and Blaby (+64%).
Leicestershire on average sits at +59%, comfortably outperforming England & Wales at +52%. Property in Melton has seen the lowest return at 46%.
Buying in the city of Leicester may be your best long-term investment for the county. If city living is not your cup of tea, consider Hinckley & Bosworth.
Hinckley has vibrant culture, excellent leisure and recreational activities, with rich local history and charming green spaces. The average home in Hinckley & Bosworth is £290,718.
New homes in Leicestershire are now 62% more expensive than existing properties
Brand new houses have always been more expensive than existing ones. But the difference has been growing at unprecedented speed through 2024 and now stands at £169,035 in Leicestershire.
If you exclude newly built properties, you can see average house prices have remained fairly stable since the end of 2022. And the apparent uptick in the graph at the top of this page is being distorted by new builds.
This is great news for hopeful first-time buyers who are looking to buy a second-hand home and are still scraping their deposit together, ready to get on the property ladder.
New builds lose up to around 7% of their value after purchase, much like a new car the minute you drive it away (source: Toomey Legal, Sloth Move).
"This disparity in price will fuel nearby house prices up as estate agents use these potentially over-priced local comparables when setting sale prices for existing properties in the local area." - Andrew Boast, CEO.
This means new builds are not quite the same value for money as they may first seem; however, they are built to modern building regulations, which means they are more energy efficient than older homes.
This is increasingly important with long-term plans to make an EPC rating of C or above compulsory on all rental properties by 2030.
Should I buy a house in Leicestershire?
Leicestershire is an excellent location to buy a home:
- Traditional market towns
- Buzzing city
- Commuter connections & central location
- Affordable living
- Beautiful countryside
- First-class schools
- Illustrious sports clubs
- Historic and cultural treasures
House prices are rising, and the cost of borrowing continues to fall. If you can afford to buy before prices increase further, you'll likely be able to switch to a more affordable mortgage rate in a couple of years, by which point your investment will hopefully have appreciated in value.
Across the East Midlands, house prices are expected to increase 18.5% over 2025-2028.
If you are renting and can afford to buy at the current rate of interest, this may be a much more desirable option than saving for a bigger deposit, as rents are still rising, whereas mortgage rates are likely to fall.
However, if you are stretching your budget to buy in Leicestershire, consider saving for a bit longer or opting for a more affordable district. If the base rate rises again, you may be unable to keep up with your monthly repayments when your fixed rate comes to an end.
Worse yet, if prices fall, you could end up in negative equity, owing more money than your home is worth. Buying a home with a mortgage always comes with risks. Your home may be repossessed if you do not keep up repayments on your mortgage.
If you are ready to buy a house in Leicestershire or the surrounding area, we can handle your purchase with a dedicated SAM Conveyancing Consultant to manage your transaction alongside one of our hand-selected panel solicitors.
"The widely anticipated reduction in the base rate to 4.5% in February could pave the way for more affordable mortgage rates, stimulating greater activity in the market. This will be particularly useful for first-time buyers and remortgages."
- Andrew Boast FMAAT MIC
CEO and Author | SAM Conveyancing
Sources: Latest data from - Gov.UK, Bank of England, UK House Price Index, Savills.

Caragh is an excellent writer and copy editor of books, news articles and editorials. She has written extensively for SAM for a variety of conveyancing, survey, property law and mortgage-related articles.


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