The Property Market in Nottingham
Nottingham is a vibrant area in the East Midlands with higher-than-average rental yields. The city has seen some of the most significant growth in prices over the last five years, making it an attractive option for those looking to buy or invest in properties.
The redevelopment of the ‘Southside’ area, a £2 billion project, will transform the city, making it an ideal location to look for investment opportunities in Nottingham. Last year, properties in Nottingham had an overall average price of £250,170, with semi-detached properties being the most popular choice, selling for an average price of £231,976. Detached properties sold for an average of £374,295, and terraced properties fetched £179,415.
Nottingham has delivered some of the country’s best yields, making it a great place to invest in property in the UK.
The city is rich in history and personality, with world-renowned landmarks such as the Sherwood Forest and the beautiful architecture of lace mills. Nottingham also features a hub of industry, with big businesses such as Boots having their headquarters there.
Two universities ensure that the city is a vibrant, buzzing environment with excellent leisure and entertainment options, attracting a steady stream of tourists each year. Hence, buying properties in Nottingham is an excellent opportunity to invest in a city with a rich cultural and historical heritage.
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The average Nottingham property costs £250,170, making the city one of the most affordable in the UK.
The average value of apartments in Nottingham has increased by 13% in the past 2 years.
According to home.co.uk, with rent figures of £1,253 PCM, the average rental yield in the city is typically above 7%, anything between 5 and 6% is considered a good rental yield, which bodes well for investment properties in Nottingham with higher returns than this.
