Leicester should be on your radar if you’re interested in investing in rental properties. This vibrant city offers excellent opportunities for those looking to rent out properties and make a profit. However, choosing the right location is crucial to maximise your benefits. Similarly, if you’re a long-time property owner contemplating an exit strategy, understanding the potential return on investment (ROI) is essential. Selling during a seller’s market can be incredibly lucrative.
In this article, we will delve into the student hotspots in Leicester, highlighting the areas that investors should consider when purchasing buy-to-let properties. Additionally, we will explore regions where selling might be advantageous.
What makes Leicester a student hotspot?
For those who may be unaware, Leicester is home to not one but two prestigious universities—De Montfort University and the University of Leicester. These academic institutions attract a staggering number of students, close to 40,000, every year. Unsurprisingly, this creates a significant demand for student housing in Leicester.
However, it’s important to understand what students are looking for. They’re not just looking for a roof over their heads; they want convenience and access to amenities. That’s why choosing the right area to invest in is crucial for a successful buy-to-let experience. You need to find a location that strikes the perfect balance—close to the universities and equipped with amenities that cater to student needs.
Leicester rises to the occasion, offering more than just academic institutions. It provides an exciting environment with bustling social hubs and essential amenities like supermarkets, restaurants, and entertainment venues. Students can thrive in this dynamic city, both inside and outside the lecture halls.
By investing in student properties in Leicester’s prime hotspots, you can tap into a thriving market while meeting the demand for quality accommodation. It’s an opportunity to provide students with a place they can call home, all while reaping the rewards of a successful investment venture.
With that said, here are some of the student hotspots in Leicester.
Aylstone
Aylestone is a charming suburb that seamlessly blends the essence of its mediaeval past with a modern-day allure. Once an independent village, Aylestone became an integral part of Leicester City in 1891. Strolling through its streets, you can’t help but be captivated by the historical remnants that have withstood the test of time, particularly from the remarkable 13th century.
Aylestone’s strategic location further enhances its appeal, especially for students. Just 2.7 miles from De Montfort University and 3.3 miles from the University of Leicester, it offers easy access to these esteemed educational institutions. Students residing in Aylestone can enjoy a short commute, giving them more time to focus on their studies and embrace the student life that Leicester has to offer.
When it comes to property prices, Aylestone has shown a promising trajectory. Over the past year, the average sold price hovers around £162,000—an enticing figure for potential buyers or investors. Moreover, Aylestone’s housing market has witnessed consistent growth over the past decade, with the last two years experiencing even more substantial increases. For homeowners considering a sale, now might be an opportune moment to use the recent price increase and secure a favourable return on their investment.
Bede Park
Bede Park is a fantastic area, close to De Montfort University, and is a prime location for students in Leicester. With its convenient proximity of less than half a mile from the university campus, it offers the perfect base for academic pursuits. What’s more, Bede Park’s strategic positioning ensures easy access to Leicester’s bustling nightlife, meaning easy access to student clubs.
Additionally, the area is also home to other student accommodations, where students may move to be closer to new friends in their later years of study.
When it comes to property prices, Bede Park offers a range of options, making it challenging to provide an accurate figure. However, one thing is certain—the demand for this prime location remains strong. For those considering a purchase, Bede Park presents an excellent choice with enduring appeal. Likewise, for sellers, it’s worth noting that house prices have continued to rise across the board, indicating that now may still be a favourable time to sell.
Westcotes
Westcotes, affectionately known as the West End, offers an ideal location for students attending De Montfort University; It is only a short 12-minute walk away. As one of the most sought-after areas for student accommodation in Leicester, Westcotes, or the “West End,” offers a more intimate and less crowded space compared to other neighbourhoods. A further short walk takes you to Narborough Road and Braunstone Gate, two vibrant streets also popular with students.
Pinpointing an exact average property price for the area can be challenging. However, what’s clear is that property trends in Westcotes and Leicester as a whole are on the rise, indicating a favourable time to sell. On the other hand, if you’re looking to buy, it’s worth noting that many properties in the area are buy-to-let investments. This indicates that Westcotes is regarded as a prime spot for other investors, adding further allure to the neighbourhood.
Highfields
This prime location sits conveniently between De Montfort University and the University of Leicester, making it an ideal area for attracting student tenants. With a high demand for student accommodation, investing in properties in Highfields can yield substantial returns.
Additionally, Highfields benefits from its strategic position near London Road, which is renowned for its diverse range of restaurants. Furthermore, Highfields enjoys excellent connectivity due to its close proximity to Leicester train station. This accessibility not only makes it convenient for students to travel but also increases the desirability of the area for potential tenants.
The average property prices in Highfields have witnessed a significant increase, with prices currently around £224,000. The consistent demand for student rentals ensures a steady flow of tenants, providing a favourable rental yield for investors looking to buy. For those looking to sell, with Leicester as a whole seeing a 7.5% increase in prices over the last year, now may be a great time.
Clarendon Park
Clarendon Park is another fantastic area, perfect for students. Located in the south of Leicester, it provides the best location for students at the University of Leicester. However, the area also attracts others, such as families and young professionals creating a community atmosphere.
In terms of property prices, Clarendon Park has seen a significant increase in the past year, with an average price of £290,000. This rise in prices can be attributed to the appealing amenities and the desirable location of the area. Sellers looking to capitalise on their investment can expect a good return, while buyers have the opportunity to secure properties with predictable tenants due to the consistent demand for student accommodation.
Leicester offers a variety of student hotspots, each presenting an attractive buy-to-let opportunity. For prospective buyers, the consistent stream of students ensures that properties can be readily occupied.
If you need to sell a tenanted property, it can pose challenges for some individuals, especially when it comes to properties that may require repairs and maintenance due to problem tenants. However, at We Buy Any Home, we provide a convenient and efficient solution. We are able to purchase a tenanted property while still offering a cash offer that takes into account the market value. We don’t factor in the condition of the property. Moreover, we can finalise the sale according to your preferred timeframes, which can even be as little as seven days. Get in touch to receive your free cash offer.
