House prices in LE3 5 (Leicester)

This article reveals price per square metre data and various charts to help you understand current housing market in 'LE3 5' (Leicester) - statistics were last calculated on 30 August 2024.

---

Defining 'LE3 5'

This analysis is limited to properties whose postcode starts with "LE3 5", this is also called the postcode sector. It is shown in red on the map above. There are no official names for postcode sectors so I've just labelled it Leicester.

You can click on the map to change sector, or you can enter a different postcode sector (e.g. CM23 4) below.

Search Area:

Change sector

FYI, a postcode sector is the full postcode without the last two letters.

Price per square metre

Knowing the average house price in Leicester is not much use. However, knowing average price per square metre can be quite useful. Price per sqm allows some comparison between properties of different size. We define price per square metre as the sold price divided by the internal area of a property:

£ per sqm = price ÷ internal area

E.g. 159, Tudor Road, Leicester, sold for £160,000 on Jul-2024. Given the internal area of 83 square metres, the price per sqm is £1,927.

England & Wales have been officially metric since 1965. However house price per square foot is prefered by some estate agents and those of sufficiently advanced age ;-) They may want to convert square meters on this page to square feet.

The chart below is called a histogram, it helps you see the distribution of this house price per sqm data. To make this chart we put the sales data into a series of £ per sqm 'buckets' (e.g. £1,900-£2,000, £2,000-£2,100, £2,100-£2,200 etc...) we then count the number of sales with within in each bucket and plot the results. The chart is based on 75 sales in Leicester (LE3 5) that took place in the last two years.

Generate a custom chart like the one above but based on your own criteria.

You can see the spread of prices above. This is because although internal area is a key factor in determining valuation, it is not the only factor. Many factors other than size affect desirability; these factors could be condition, aspect, garden size, negotiating power of the vendor etc.

The spread of prices will give you a feel of the typical range to expect in Leicester (LE3 5). Of the 75 transactions, half were sold for between £1,900 and £2,350 per square metre. The median, or 'middle', price per square metre in 'LE3 5' is £2,120. Notably, only 25% of properties that sold recently were valued at more than £2,350 sqm. For anything to be valued more than this means it has to be more desireable than the clear majority of homes.

Price map for Leicester

Do have a look at the interactive price map I created. I find it useful and I am sure it will help you in exploring Leicester. You can zoom in all the way to individual properties and then all the way back out to see the whole country. The colours show the current estimated property values.

House price heatmap for Leicester

Comparison with neighbouring postcode sectors

The table below shows how 'LE3 5' compares to neighbouring postcode sectors.

Postcode sector	Lower quartile	Middle quartile	Upper quartile
LE3 1 Leicester	£2,240 sqm	£2,610 sqm	£2,860 sqm
LE3 9 Leicester	£2,160 sqm	£2,430 sqm	£2,850 sqm
LE3 0 Leicester	£2,130 sqm	£2,360 sqm	£2,730 sqm
LE3 6 Leicester	£2,310 sqm	£2,660 sqm	£3,070 sqm
LE3 3 Thorpe Astley	£2,880 sqm	£3,280 sqm	£3,620 sqm
LE3 8 Glenfield	£2,850 sqm	£3,310 sqm	£3,730 sqm
LE3 2 Leicester	£2,500 sqm	£2,880 sqm	£3,210 sqm
LE3 5 Leicester	£1,900 sqm	£2,120 sqm	£2,350 sqm

Will Leicester house prices drop in 2024?

I cannot tell the future and don't believe anyone who says they can. I can however plot price trends - I have done this in the chart below for LE3 5 (Leicester) compared with both the wider area LE3 and inflation (CPIH from the Office of National Statistics). The dashed trend lines in the chart show the average over time.

Download time series data as CSV (paying users only).

For the most recent sales activity, rather than a summarized average, it is better to see the underlying data. This is shown in the chart below, where blue dots represent individual sales, click on them to see details. If there is an obvious trend you should be able to spot it here amid the noise from outliers.

Data from Land Registry comes in gradually over time. I update it every month but it takes about 5 months for the majority of sales for Leicester to be recorded. Disclaimer: I do not verify and cannot guarantee the accuracy of any data shown. Outliers exist in the data, typically these are where the EPC registry records the internal area incorrectly, sometimes although very rarely the Land Registry price paid data can be wrong. The data provided throughout this website about Leicester and any other area, is not financial advice. Any information provided does not and cannot ever take in to account the particular financial situation, objectives or property needs of either you or anyone reading this information.

Street level data

Street	Avg size	Avg £sqm	Recent sales
Tudor Road, Leicester, LE3 5J	81 sqm	£1,872	14
Bassett Street, Leicester, LE3 5E	79 sqm	£2,131	13
Dunton Street, Leicester, LE3 5E	78 sqm	£2,144	12
Warwick Street, Leicester, LE3 5S	73 sqm	£2,541	9
Fosse Road North, Leicester, LE3 5E	77 sqm	£1,726	9
Tewkesbury Street, Leicester, LE3 5H	77 sqm	£2,086	8
Battenberg Road, Leicester, LE3 5H	81 sqm	£1,981	7
Bosworth Street, Leicester, LE3 5R	75 sqm	£2,007	7

Search for your street here.

Raw data

Our analysis of Leicester is derived from what is essentially a big table of sold prices from Land Registry with added property size information. Below are three rows from this table to give you an idea.

Address	Paid	sqm	£/sqm
159, Tudor Rd, Leicester	£160,000 Jul-2024	83	1,927
50, Battenberg Rd, Leicester	£175,000 Jul-2024	84	2,083
12, Central Rd, Leicester	£175,000 Jun-2024	83	2,108

See the entire list of all sales in Leicester (LE3 5) here.