UPDATE: Four homes in Leicester are struggling to sell as sellers cut prices by thousands of pounds in a desperate attempt to attract buyers. The situation has escalated, with some properties seeing reductions of up to £25,000 just to facilitate sales in a sluggish market.
The most significant drop is on a two-bedroom maisonette in Stoneygate, which has plummeted from £185,000 to £160,000, a stunning 13.5 percent decrease. This property has undergone two price reductions since hitting the market, showcasing the challenges sellers face in the current economic climate.
Across Leicester, a variety of properties are seeing similar price adjustments, affecting everything from family homes to investment opportunities. Here’s a breakdown of the most impacted listings:
1) **Stoneygate Maisonette – £160,000**
This recently refurbished two-bedroom maisonette on Stoughton Road boasts a spacious first-floor lounge and diner with a balcony, two double bedrooms, and a fully tiled family bathroom. Its proximity to trendy shops and cafes on Allandale Road and Francis Street makes it an appealing option for potential homeowners.
2) **Buckminster Road – Offers Over £290,000**
A three-bedroom end terrace house on Buckminster Road has seen its asking price slashed from £300,000 to offers over £290,000. The property features a bright lounge, an expansive kitchen/diner, and a substantial loft room, alongside well-maintained gardens and a large workshop.
3) **Oxford Street Apartment – Investment Opportunity**
Located in Oakwood House on Oxford Street in Leicester’s city center, this top-floor two-bedroom apartment is currently generating a rental income of £875 per month through an assured shorthold tenancy agreement, making it a prime investment opportunity.
4) **Loughborough Road, Belgrave – £170,000**
This two-bedroom first-floor flat in a secure gated development is listed at £170,000 and currently yields a rental income of £950 per month. It’s an attractive purchase for both investors and first-time buyers due to its location near the vibrant Golden Mile.
As the housing market continues to face challenges, estate agents report that these significant price reductions highlight the urgency for sellers to act quickly. Buyers are encouraged to take advantage of these deals before they disappear.
With the current economic climate influencing buyer behavior, these properties underscore the shifting dynamics in the Leicester real estate market. Potential homeowners and investors alike should keep a close watch on these developments, as new listings and price adjustments are likely to emerge in the coming weeks.
Stay tuned for further updates on Leicester’s housing market as the situation evolves.
