This summer, Nottingham was the city where house prices were growing fast, and last year one of its universities was rated first in Britain by the times Education Supplement. Can Nottingham do no wrong?
It certainly seems that way right now. In the summer, house prices in Nottingham grew 7.5% while in London they fell – and quite markedly in places.
A survey by Private Finance on buy to let hotspots at the beginning of this year also showed that Nottingham was top equal city with Liverpool in this regard, with an increase of £121 in average monthly rents (both cities boast yields of 6.2%). That’s bad news for tenants, of course, but exactly the kind of thing landlords want to hear. And with selective licencing about to make its mark on the city, the time to invest in Nottingham is definitely right now.
Excellent working opportunities
So what else does Nottingham have to offer? Well, there’s certainly plenty of economic growth going on. More than 50 big brands have made their HQs in the city, including Boots, Experian, Capital One, Center Parks and German electricity provider E.ON.
This really shouldn’t be too much of a surprise when you realise there are currently around 887,000 individuals of working age in the city on any given Monday to Friday - a number which increases to more than one million when you take in the Greater Nottingham area as a whole. Not only that, but 54% of the Nottingham population (which currently numbers 350,000) have a degree. Well, the MRI Scanner, Ibuprofen and HP Sauce were invented here, after all…
And talking of highly educated, the city has two universities (it was Nottingham Trent University which was voted number one in TES), together bringing in more than 60,000 students a year. Today, you’ll find plenty of tech-related and innovative thinking going on at Nottingham’s Creative Quarter. Oh, and did we mention that at £44,023 for a digital salary it’s well above the UK average?
Economic regeneration well underway
More than £250m is currently being spent on the city’s ‘Southern Gateway.’ This will result in a modernised shopping centre and new college campus. Around £1bn has already been spent on its infrastructure, in terms of a light tram network, covering 32 km of the city and known as the Nottingham Express Transits. At the same time, HS2 will help reduce journey times into the capital when it reaches Nottingham in 2023.
The city’s bus system is pretty impressive too; certainly, it’s the largest public-owned bus network in England. Trains into London from Nottingham take a mere 90 minutes, while East Midlands Airport is nearby and hosts a number of international flights.
Living in Nottingham
There is plenty of greenery nearby in the form of Sherwood Forest and the Peak District, while theatre goers have a good choice of venues, and shoppers can revel in an impressive retail selection of designer brands, high street names and independent shops (it happens to be the seventh largest retail centre in the whole of the UK). There are several Michelin-starred restaurants too.
Interestingly, Nottingham is also a UNESCO City of Literature and was the home of none other than DH Lawrence.
Speak to Elizabeth & Sam Coffie who specialises in investment property.
Call 0333 123 1330