Why invest in Nottingham?
Nottingham is a world-class student destination, with its thriving arts scene and top shopping, international sports facilities and award-winning nightlife. Nottingham’s compact city centre with new free Wi-fi hotspots, pedestrianised streets and tram system make it easy to get around.
There are many reasons why we would recommend investing in Nottingham – but here we look at the top 5!
1. Prices and rents are incredibly affordable
Whilst, in London, average house prices – at £479,100 in August 2017, according to the Land Registry – are 12.9 times the average individual’s earnings, the East Midlands has average house prices of just £177,825, around 6.2 times the average individual’s annual earnings.
This is why many independent market research companies are tipping Nottingham as one of the best places to invest.
Emoov, stated “Nottingham is top of the table in terms of monthly prices growth since Brexit, up 0.80% a month on average meaning the average house price would increase 160% from the current £133,215 to £346,592 by 2027”.
The average median monthly take-home salary in Nottingham is £1,671, which reflects very well against the average monthly mortgage repayment of £447 (compared to London’s £2,381).
Don’t just take our word for it – See recent articles below:
- Expected growth of 160% over the next 10 years in Nottingham, strongest city in the UK – Express
Hometrack Q3/Q4 Rental Market Report highlights Nottingham where demand for renting has grown faster than the national average over 2019.
Based on all these independent articles we probably don’t need another 4 reasons why you should invest, but as you will see below there are many more!
2. Two Major Universities
Nottingham has distinguished itself as an internationally known University city thanks to two leading and ultra modern, research-focused universities: the University of Nottingham and Nottingham Trent University.
These two universities are home to over 60,000 students, with 10,000 Overseas students. It’s also the UK’s third most cost-effective student city.
This not only means there are huge numbers of young people looking to rent properties, but means that Nottingham has one of the youngest populations of any major UK city. Nottingham is currently the second youngest core city, with more under 30s than any other except Manchester (figures from Nottingham City Council, 2017).
This means huge numbers of tenants and first time buyers, making it an excellent city to invest in.
3. Jobs – some of the UK’s best known companies are based in Nottingham
A massive 87% of total full-time employees work in the service sector, with manufacturing making up 6.2%. Nottingham was recently hailed by MP Vince Cable as “a place for innovative businesses and individuals to thrive”, thanks to the growth of industries such as digital content, clean energy and life sciences.
The most famous company based in Nottingham, also happens to be one of the UK’s most prominent high street staples – Boots. Founded in Nottingham in 1849, its headquarters in the quaint suburb of Beeston employs 8,000 people. Elsewhere, Experian UK has its operational headquarters here, while the city is also home to Biocity (the UK’s leading bioscience incubator), Pendragon (the largest operator of franchised motor car dealerships in the UK), Vision Express, the University Of Nottingham’s Energy Technology Research Institute and fashion designer Paul Smith’s flagship store.
In the recent Best Places In The UK To Make A Living survey carried out by The Independent (via Total Money), Nottingham charted ninth out of 64 cities and towns, beating the likes of London, Edinburgh, Birmingham and Manchester. Job growth is a respectable 8%, while the average median monthly take-home salary is £1,671, which reflects well against the average monthly mortgage repayment of £447 (compared to London’s £2,381).
As you can see it is little wonder that the housing market is strong, with excellent job growth in Nottingham.
4. It is the home of English Sport
These, were the words of Visit England, who awarded Nottingham the Home of Sport title in 2015. From Brian Clough to Carl Froch, and Torvill and Dean to Rebecca Adlington, it’s a city of legends.
Nottingham is home to two professional football clubs, the world-famous Test match cricket ground Trent Bridge, the National Ice Centre, and The National Water Sports Centre.
These bring in hundreds of thousands of sports fans every year.
5. Transport links
Nottingham claims that it’s “one of the cleanest, greenest and least car-dependent cities in the UK”, and for good reason. The past few years have seen extensive extensions to its tramline, while regular buses and trains service the city centre. Add to this a train station with direct links to London (under 2 hours away), and other business hot spots, and the fact that it’s only a short trip to East Midlands airport – with flights all across Europe – and Nottingham is well-connected in more ways than one.
Nottingham is in the heart of England and therefore perfectly located for travelling around the U.K, with Manchester, Birmingham, Leeds and London, all within 2 hours travel, making it an excellent location for businesses to base themselves in.
So as you can see with such a young work force, 60,000 students, and job growth and house affordability so good, Nottingham is a fantastic place to invest. But with prices continuing to rise, and national exposure continually finding Nottingham the number 1 place currently in the UK to buy with equally rising prices and rents, we would recommend you don’t delay!
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