Keywest estate agent Leicester are here with the hints and tips to help you snap up your Leicester dream home at a great price

Now is the time to plan your next property purchase if you want to take advantage of some great bargains currently available. The Nationwide House Price Index has revealed that East Midlands properties actually went down slightly in value in January, making it the perfect time to snap up a great deal on a new home.

It is not bad news for sellers, either, as Nationwide also revealed that overall UK property prices are still 2.4 per cent above their value at the peak they reached before the financial crisis hit. Although annual growth has slowed, there is still plenty of potential to make a very reasonable profit if you decide to put your own home on the market in preparation for buying somewhere else to live.

In Leicester, prices may have dropped by an average of one per cent in January, but this opens up a wealth of opportunities for those people looking to buy right now. The current climate also offers the promise of rising prices in the future, especially when the forthcoming general election ceases to cause some uncertainty within the market.

This means that if you decide to buy at the moment, many experts are predicting that the value of your purchase is likely to increase in the not-too-distant future.

If you are planning to sell, the average price for an East Midlands property is £131,336, which is an increase on the average value in 2014.

Another bonus for those people looking to invest in a property in Leicester and the East Midlands right now is that the number of sales as a result of repossessions has dropped. In the East and West Midlands combined, there were 64 per cent fewer repossessions at the end of 2014 compared to the previous year.

This may well be a sign that banks are currently increasing their flexibility when it comes to payment terms and may even be more willing to lend. This could be very good news if you are planning on increasing or renewing your mortgage or are planning to buy for the very first time.

Added to this, mortgage rates are at an all-time low, providing yet more evidence that this is a really great time to buy.

For sellers, this spring also looks set to present a whole host of opportunities when changes are introduced allowing people over 55 to access their pension pots and receive a cash sum. This will undoubtedly prompt many people to look for properties in which to invest the money and will offer more selling opportunities for property owners in the Leicester area.

Interestingly, data from the Royal Institution of Chartered Surveyors already shows a substantial increase in the number of new buyer inquiries. These have increased by 15 per cent in the East Midlands in the last three months. If you want to make the most of this positive climate for both buying and selling, get in touch with the specialists at Keywest today.