Letting Agents in Leicester

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Letting Agents in Leicester

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Leicester rental market overview

Leicester's rental market is experiencing exceptional growth, with average rents increasing by 10.2% over the past 12 months, rising from £880 to £970. This substantial growth, exceeding the national average of 8.6%, reflects the city's increasing appeal to a diverse range of tenants, particularly students and young professionals.

Rental demand in Leicester has surged by an impressive 22% compared to last year, driven by the city's affordable living costs relative to other major cities and its thriving student population from the University of Leicester and De Montfort University. This strong demand is creating excellent opportunities for landlords, with some reports indicating rent increases of up to 13% in certain areas.

Average Monthly Rent in Leicester

£676 PCM

1-Bedroom

£846 PCM

2-Bedroom

£986 PCM

3-Bedroom

Based on average rental prices in Leicester as of April 2025

Rent Increase Over Last 12 Months

10.2%

Leicester

8.6%

National Average

Year-on-year rental price growth as of April 2025

Popular Areas in Leicester

Clarendon Park

Popular with students and young professionals

Stoneygate

Upmarket area with period properties

Oadby

Family-friendly suburb with good schools

Market Trends in Leicester

Rental demand increased by 22% compared to last year
Strong student market from two major universities
Experts anticipate 3.5% rise in house prices during 2025

Frequently Asked Questions

What is driving the growth in Leicester's rental market?

Leicester's rental market growth is driven by several factors, including its relatively affordable living costs compared to other major cities, a thriving student population from the University of Leicester and De Montfort University, and strong employment opportunities in sectors such as healthcare, education, and manufacturing. The city's central location and good transport links also make it attractive to commuters, while ongoing urban regeneration projects have enhanced its appeal to young professionals and families.

Which areas of Leicester are most popular with tenants?

Different areas of Leicester appeal to different tenant demographics. Clarendon Park and the city center are particularly popular with students and young professionals due to their proximity to the universities and vibrant social scene. Stoneygate attracts professionals and families looking for period properties in a leafy setting, while areas like Oadby and Wigston appeal to families due to their good schools and suburban feel. For investors, areas undergoing regeneration such as the Waterside district offer potential for strong future returns.

What rental yields can landlords expect in Leicester?

Leicester offers attractive rental yields compared to many UK cities, with average gross yields typically ranging from 5% to 7% depending on the area and property type. With average rents increasing by 10.2% over the past year and property prices rising at a more moderate rate, yield potential has improved for many landlords. Student properties, particularly Houses in Multiple Occupation (HMOs), can offer even higher returns, though these require more intensive management and must comply with specific licensing requirements.

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