According to data from property listings site Zoopla from May 2017, over the past year, homes across the Charnwood district have risen in price by an average of 5.7% which gives them a current average price of £338,873.
Most increased house values around Loughborough
Focusing on the different locations within Charnwood, those with the greatest annual average increase (7.46%) to May 2017 are:
- Barrow upon Soar
- Walton on the Wolds
- Woodhouse Eaves
Least increased house values around Loughborough
Areas that had the least average increase in value over the past year (at a 3.89% increase) are: Barkby, Cossington, Newtown Linford, Queniborough, Rearsby, Rothley, South Croxton, Thrussington and Thurcaston.
Why are some houses around Loughborough more expensive than others?
The difference in average value increases can be due to a number of factors. Often houses increase in price in a certain area if local amenities are improved, or new jobs or transport links created. Community events and positive news stories can also help to improve the perception that local people have of an area, which they perhaps previously knew little about.
Generally speaking, if houses in a certain area sell quickly, it means that there is a high demand for that area, which can cause house prices to rise.
Another reason that some houses are more expensive than others is down to the type of house that is most prevalent in that area. For example, in somewhere like Newtown Linford, there are very few terraced streets. Most properties are detached or semi-detached and have a good amount of land surrounding them. Add to this the fact that many of the houses here are picturesque cottages with views of Bradgate Park and it’s easy to see why house prices in this area are likely to continue to rise.
Other considerations causing houses to increase in value
Of course, the price of a house depends on many different things, including its size and condition, as well as its location. Two bedroomed houses will almost always be less expensive than three bedroomed houses and those with features such as a garden or a garage will usually be more expensive than those without those features. Similarly, negative features such as damp or subsidence will generally decrease the value of a property, regardless of where it is situated.
Advice about adding value to houses in the Loughborough area
Abell Building Services is a Loughborough based building company who come highly recommended for building renovations and home improvements. For advice about how best to improve the value of your property, give us a call on 01509 734550 to start turning your plans into action, or email us using our contact form.