Nottingham. Famous for its connection to the legend of Robin Hood and historical links to the lace and bicycle industry, Nottingham is big enough that you still enjoy all the benefits of city life but small enough that there’s still a strong sense of community and everything is within easy reach reach.
Lying in the heart of the East Midlands, Nottingham is a major transport center that has been on the property growth radar for a couple of years now. Rapid house price increases are no longer confined to the South of England. There’s a growing number of cities across the UK that are gaining the attention of buyers and investors, and Nottingham is one of them.
What is the average price of a house in Nottingham?
We know that Nottingham continues to be a popular area because of the increase in house prices in recent years. When a location becomes popular, house prices rise. Nottingham’s rate of house price growth over the past year was among the fastest in the nation. According to data from the Halifax bank, the region’s average home prices increased by 13% to the end of November 2022. Nottingham properties sold for an average of £286,696 over the year, up £32,966 in the last 12 months.
According to Rightmove, the town of Eastwood in Nottinghamshire was 2022’s top price hotspot. House prices in the area, which sits between the cities of Derby and Nottingham, rose by 29% last year, putting the average price of a home at £231,381. It’s important to note that this price is still around £85,000 less than the average house price of £316,000 in England (August 2022), making Nottingham a great place for investors looking to expand their portfolio.
Why is Nottingham a popular place to live?
Nottingham continues to be an attractive place to live and invest. Nottingham has a great music scene, is home to around 60,000 students, and has endless cultural hotspots like the Nottingham Natural History Museum and the Windmill and Science Centre. The excellent affordability and transport links make it a great base for families and professionals alike.
Nottingham may not be the first place that comes to mind when considering your next property investment, but there are many great areas of Nottingham to choose from depending on your budget and requirements.
- Beeston is an affordable part of the city close to the University of Nottingham, meaning there are lots of students and the area reflects this. It’s a lively spot with plenty of restaurants, shops and bars making it the ideal location for people who enjoy socializing.
- The Park is the more affluent part of the city where properties can reach the million-pound mark (and beyond!).
- Newark-on-Trent has decades of history and has come into its own in recent years. It’s a great place to invest right now and young families are already enjoying the town’s charm, the nearby countryside, and great public transport links.
- Mapperley consisting of Mapperley, Mapperley Plains and Mapperley Park, this area has lots of local amenities and is well connected to both the bustling city center and the famous Sherwood Forest.
We currently have two developments that are under construction in Nottingham.
Located in Mansfield, north of Nottingham, The Hive is an off-plan residential development featuring luxury studio, one and two-bedroom apartments, set within its own grounds.
Located East of central Nottingham, Holme House is a new build development consisting of 20 luxury one and two-bedroom apartments.
If you’re interested in investing in property in Nottingham, we’d love to hear from you. From providing homes for Nottingham’s thriving student community to beginning your buy-to-let journey, we have the tools and knowledge to create wealth for our clients by providing investment opportunities unique to the property market.
Get in touch with our property experts to discuss your investment goals and property requirements today.