Why is Nottingham one of the best places to invest in property?

According to the Land Registry, house prices in Nottingham have increased by 5.6 per cent between October 2017 and October 2018. The overall average price for a property in Nottingham is now £195,797.

Nottingham is not just an excellent choice for investors looking to make capital gains on property, the rental yields achieved are some of the highest in the country.

High yields achievable through investments
Research conducted by Mortgage Broker Private Finance has shown that average rental yields in Nottingham are the second highest in the country at 5.6 per cent.

MORTGAGE ADVISOR NOTTINGHAM

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It also performs well in terms of capital growth as it is predicted that, over the next 10 years, Nottingham will top the tables for average house price growth at 0.8 per cent per month. This means that the average property price will increase by 160 per cent between 2017 and 2027, from £133,215 to £346,592.

The attraction of Nottingham is that 25 per cent of its population is aged between 16 and 24 – one of the prime demographics that will be looking for rental property as they just start out in their careers.

It also boasts excellent travel connections, that makes 90 per cent of England’s population accessible.

Regeneration will only boost property prices
Regeneration to Nottingham’s city centre will improve desirability to live in or around the city.

For a while, shops have stood empty in Broadmarsh shopping centre, but this is all due to change as Intu has committed to making improvements.

New retail outlets are not the only way in which the council is looking to improve the city centre, with an empty building on Carrington Street due to be transformed into a gym and other initiatives being put in place to improve the number and quality of facilities in the city.

The sleek, modern interior of a Sherwood Square property
The sleek, modern interior of a Sherwood Square property
A new HM Revenue and Customs centre is due to be built in Nottingham too, which will create 4,000 new jobs and of course, those new employees will be vying for accommodation in the city so now could be the ideal time to invest in ‘buy to let’ property in Nottingham.

Sherwood Square is one particular buy to let opportunity based in the Nottingham suburb of Carlton. The development is a contemporary collection of 42 one-bedroom apartments starting at £104,995, and features include anti-slip vinyl flooring, custom built kitchens and stylish bathrooms.

With an estimated 6.75 per cent per annum gross rental yield, Sherwood Square provides a robust investment opportunity for the astute investor.

The ‘Monthly and Mortgage’ plan, where the 30 per cent exchange deposit is divided by the 24 months build schedule and the remainder paid on completion by way of mortgage or cash, provides an attractive low point of entry into the property market.