House prices have rocketed

Phillips George
28 June 2022
Phillips George News | Selling

The last 20 years have seen the cost of an average home increase by a staggering 259%.

House prices have rocketed in Leicestershire over the past two decades

It is always more useful to look at long term trends when thinking about investing in property in a volatile market. The last 20 years have seen the cost of an average home increase by a staggering 259%. It is hard to say where would be better to invest your hard-earned money.

However more importantly, putting a roof over your family’s head remains and always will be a great way to deliver financial security for your family.

Top of the Charts

A recent report from Plumbnation shows that Leicester is in the top three growth spots in England, only Manchester and Salford have seen greater increases in the past 20 years, with Manchester hitting a heady increase of 331%,

An average house would have cost £68,608 in the area in 2002, and the same property would be on the market for £251.081 in 2022.

A sellers’ market

Clare Phillips, Partner at Phillips George said: “Although it is difficult to predict the immediate future of house prices, we can remain confident it remains a sellers’ market, where demand continues to outstrip supply. Good quality homes continue to sell quickly at premium prices in our experience.”

House prices increased by 12.4% in the East Midlands in the past year to April, so you might be surprised at just how much your home is worth. Get in touch with us at Phillips George or use our instant valuation tool to find out more.


Figure 4_ London remains the region with the lowest annual house price growth

As an estate agent myself, I would like to think I set my standards high, but Clare & Phillips George as a whole raised the bar!!! Amazing experience from start to the finish when we purchased a property in Wigston. We had actually been dealing with another agent on the same road as them and it led us to pulling out because the service was so poor. You can see why they are doing so well, every member of staff was friendly and happy to help. It really made the whole experience of buying our first home so much better. Thank you so much for everything. Keep smashing it!!!

Krishan Morjaria – April 22

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Clare Phillips
Clare Phillips, Partner
Clare has been in the industry since 1998. Her career started as an administrator and she has worked through each role in estate agency from negotiator, sales progressor, valuer, manager and culminating in opening Phillips George as a co-founding partner. Through Clare’s career she has obtained professional qualifications with both NAEA (national association of estate agents) and ARLA (association of residential letting agents) to ensure that she delivers a first class service to all of her clients. Clare’s favourite part of estate agency and lettings is helping customers achieve their goals and making the process as smooth as possible for them.