Is Leicester the best city for investors?
According to a recent study by online savings solution Raisin, the City of Leicester is not only the best location for property investment but also for new businesses to setup and thrive.
The May 2020 report by Raisin found that the local businesses contributing to Leicesters £23.4 billion per year economy, are among the most resilient in the UK with a survival rate of over 94%.
As is the case with several other cities in the East Midlands, Leicester has also seen some impressive capital growth over recent years. Since 2018 property prices in the city have increased by 28%. The average price for a property in Leicester is now £246,000 and this figure is expected to continue growing in the coming years despite challenges resulting from covid19.
Kevin Mountford, co-founder of Raisin UK, said:
"Whether you’re buying a house, you have to weigh up the pros and cons, and the location is a key factor in that.
Using the Raisin UK city investment index you can find the most practical and profitable location for your business and property needs, encouraging the most successful outcome of your investment and hard-earned savings."
Also making the top three locations for investment were Coventry and Bristol who were both found to have business survival rates above 85% and property price increases of over 26% since 2018.