Nottingham might be an interesting area to invest in when looking for a house for sale in the UK as it is a unique area in the county of Nottinghamshire.
Before looking for a house for sale in the city of Nottingham we strongly suggest landlords and real estate investors to research in detail and consider all involved factors. Indeed, house prices can change quite a bit depending on the square foot of the property, the number of rooms, the economic climate, the location of the house and more.
In this data heavy article the reader will be able to find out more on the topic and see the specific data to consider when evaluating different houses for sale in Nottingham.
Professional advice for houses for sale in Nottingham
In today’s market with an abundance of homes available for sale, choosing the best house for sale can be challenging.
With several houses for sale to choose from, who will guide you through the process of choosing?
We have listed here below several experts and companies able to advise and support potential buyers.
The process of finding and investing in a house for sale can be lengthy and time-consuming, this is why we suggest you consult with the following professionals:
- Banks – Lend you the cash
- Insurance companies – Insure your new real estate investment
- Conveyancer – handles all the legal labour that is needed to proceed in buying a house for sale.
- Surveyor – Carries out an independent and complete property valuation of the house for sale
- Mortgage advisor – If you are thinking to get a mortgage to get the finances needed to afford to buy a house for sale, a mortgage advisor is the person you should be looking for
- EPC person – Always get a quote on the Energy Performance Certificate of the houses for sale listed in a certain city
In general, what do houses for sale sell for in Nottingham?
For the city of Nottingham, the average price a house sells for is £166,713. This value usually depends on the exact location of the house within Nottingham as well as other factors like the population growth which is 12% over a ten-year period.
|Housing category||Total final sale price|
|Aerage sold price (detached)||£279,876|
|Aerage sold price (semi-detached)||£181,540|
|Aerage sold price (terraced)||£163,979|
|Aerage sold price (flat)||£132,580|
The above table puts this figure into perspective as you can see the various average sale prices of a house for the specific type of house you’re most interested in. This comparison is important because the type of house you’re considering to buy may be more or less in demand based on variations in supply and demand in the city of Nottingham.
|Housing category||Sale price per square foot|
|Aerage sold price/sqft||£2,085|
|Aerage sold price/sqft (new build)||£2,545|
|Aerage sold price/sqft (old stock)||£2,010|
Generalising the bottom table, the average value per square foot of a house for sale is £2,190. This value averages all of the types of houses for sale in Nottingham. So, if you’re not sure what type of house you want specifically, you can still get an idea of the real estate market of Nottingham.
Bear in mind that if you are a landlord looking to buy a property to rent, you will also run into other expenses like letting agent fees and the cost of listing your property for sale on Rightmove in your city.
Are you considering other cities with houses for sale?
Below is a list of towns that differ from Nottingham.
Going over these locations will help you evaluate the different houses for sale across the UK. Whether that be in the same or a very different region to East Midlands:
- beddington-corner in East Midlands
- prittlewell in East Midlands
- bishopstrow in East Midlands
- ham-green in East Midlands
- newbury-park in East Midlands
If you are interested in other cities or even regions of the UK, please visit the following page for more information:houses for sale in the UK it contains all the data related to the houses for sale in our nation.
What are the people like in Nottingham?
Nottingham in the county of Nottinghamshire is notable for its specific demographics and has individual characteristics.
For localised cities and the bigger areas of the UK there are wide variations in the demographics that shape an area so the same is also true for the wider region Nottingham is located in; East Midlands.
Below, these demographics are talked about in headings that explain how the city has grown, what the education levels are like in Nottingham, what the social grade score of the city is like and if the green space matches the recommended levels people living in the UK should have.
In Nottingham, how has the population changed?
Whenever there is a population change this can impact the demand for housing and hence the appreciation of properties too. The total population of Nottingham if 61685 and in the below heading how this population has changed will be broken down.
Like most data to do with houses, all data has to be considered holistically with multiple variables to determine if the population growth actually impacts the statistics that matter to you as a landlord in Nottingham such as rental yield or house appreciation.
How has the population size of Nottingham adjusted in the last 5 years?
In the previous five years there has been a change in the number of people of Nottingham by 6%. Analysing this figure is a great way to tell if there is new demand for housing or not as a decreasing figure reduces the number of people who want to buy houses. Read more here
To compare this figure over a greater period of time, you could look at the figure for the 1 year population too and compare them. This way you can see if the population has changed recently or if this 6% change has historically occurred before. Click here to know more on the UK population trends.
Over the last 10 years, how has the population size adjusted in Nottingham?
In the last decade, the population of Nottingham has been adjusted by 12%. This growth may be as a result of factors like new industries employing people or emigration and immigration balancing out to create this population change.
A precedent that shows population change in this way over decades is the region of Greater London. The capital city has grown by 27% in the past 20 years. Population growth has caused house prices to go up to price523,666 on average.
Is there sufficient green space in Nottingham?
In the city of Nottingham, there are 11 acres of green space per 1000 residents.
The charity, ‘Fields in Trusts’ recommends a minimum of 6 acres of green space per 1000 people so it is easy to see where Nottingham is when seeing if green space availability is sufficient. This green space could be parks, nature reserves, public gardens or playing fields.
What salary does the community in Nottingham take home?
By and large, a higher household income in a population can have positive effects on the crime rate and the quality of space. This is due to the fact that higher earners tend to buy houses where there are better schools and more desirable amenities that impact the quality of life someone has.
In Nottingham, the average income is £36,650.00. Measuring this figure against the average household income for the UK of price34,000 should tell you if the city is higher or lower earning.
When buying a house, use this statistic with other factors when making a decision too like the crime rate or the social grade score of 22% to decide on what the demographics are like in the area.
What is a social grade score and how does this relate to Nottingham?
Most of the time, the social grade score of a city is what it takes to determine what the economic levels are like as this score refers to what type of jobs the people of the area generally work as. So, from highly skilled, managerial roles, to the manual labour workers of the UK, how does Nottingham compare?
At the highest end of the scale (A) jobs that are managerial administrative or professional are all lumped into this category. On the other hand, there is the lowest grade (E) where workers who are on benefits, state pensions or work casual jobs fall into.
In Nottingham, the percentage of people who work in the two highest skilled categories of this scale (A and B) is 22%.
So you can compare this data, here is the estimated grouping of the social grades of the UK for the general population. Adding the two highest categories of A and B and comparing this percentage to the high social grade score which combines A and B should give you a good comparison.
|Social Score||Category||The proportion of the UK population (%)|
|A||Professional, managerial or administrative||4|
|B||Intermediate managerial or professional jobs||23|
|C1||Supervisory, junior managerial or professional jobs||29|
|C2||Skilled manual workers||21|
|D||Semi and unskilled manual workers||15|
|E||State pensioners, casual & lowest grade workers||8|
In Nottingham, what is the crime rate?
The crime rate of Nottingham must be looked at sceptically. The reason for this is that the crime rate can vary within a city greatly and the type of crime committed can also vary too.
For example, the area has a crime rate of 41200%, but another city may have a higher crime rate but not be deemed as dangerous due to lower level crime or minor offences being committed.
Either way, high crime rates are never a good sign so consider the rate against the UK average of 79.52 for every 1000 people as a benchmark.
Lower rates could mean things like home insurance is cheaper and you have to install fewer security measures throughout your house. Saving you money in the long run. So the statistic of crime rate (41200%) is both useful and is recommended to be compared to the average.
How deprived is the population of Nottingham?
The deprivation levels of the UK can vary quite a bit. High deprivation levels signal a particular area has people who are struggling to make ends meet and pay for basic living expenses. For Nottingham, in particular, the deprivation levels are £0.
This figure can be contrasted with the deprivation levels of the UK of 33% to see if the levels are below or above average.
In Nottingham, how educated are people in general?
In Nottingham, the proportion of people who have a degree is 30%. Generally speaking, as the number of people with degrees increases, the more people are able to afford houses to buy as a degree is a good indicator of a higher income. To put this into perspective, the average income of Nottingham is £36,650.00.
This figure for average household income usually goes up alongside the percentage of people who have degrees.
However, this is not a hard and fast rule, there are many factors influencing the buying power of a population and hence the appreciation of housing and the number of houses for sale in the area. This can include the rental yields of the area and other demographic statistics like crime rate.
Nonetheless, it cannot be argued that those with degrees tend to live in more affluent areas as 82% of people who achieve a first in degree level education are owners of the place they live.
On average, what is the figure for the asking price of a house for sale in Nottingham?
In the city of Nottingham, what is the average asking price for the houses for sale?
|Average asking price (1 bed)||£120,000|
|Average asking price (2 bed)||£183,261|
|Average asking price (3 bed)||£246,013|
|Average asking price (4 bed)||£409,665|
|Average asking price (5 bed)||£502,632|
Reading the table above should therefore give you a good idea of the type of house for sale that is within your budget in Nottingham and if you may need to look at a different area in order to buy the type of house you can afford.
Also, noting the £1,235 should also give you an overview of what the asking price for houses for sale are in general.
When investors make offers for houses for sale in Nottingham, the average price asked by the homeowners works out to be £210,229.
In the table below, for all the different sizes of houses in the area, the average asking prices have been displayed. This tells you what kind of house is more or less expensive and sought after despite houses with fewer bedrooms being overall less expensive anyway.
Any house that looks like it is overpriced for the number of bedrooms it has in Nottingham is typically not overpriced. It is just the case that that type of housing has a higher demand, therefore, people are willing to pay more.
Choose the right house for sale that suits your needs
Find here below a list of criteria that we suggest you consider before looking for houses for sale in Nottingham
affordability – the UK gov website comes in helpful when you want to understand (see what house for sale you can afford)
Geographic Location – the county and region across the UK you are considering to invest in are crucial factors to consider when browsing houses for sale.
Transport network of the house for sale – Hopefully, the pandemic stays in the past. Therefore, working from home may become less predominant than a couple of years ago. Check the commuting time of the house for sale you are considering buying.
Bedrooms in the house for sale – are you looking for houses for sale for yourself, for a couple or for the whole family? This condition will narrow down the number of houses for sale relevant to buy.
EPC of the house for sale – today more than ever, the energy performance of the properties for sale on the market should be one of the first things you check.
Broadband speed – having a good internet connection is crucial nowadays. Always check the available subscriptions available for the areas of the house for sale you want to purchase
Are you a car owner? – if yes, you will have to check for parking availability of the house for sale. Does it come with a garage included in the price?
Conservation areas – when browsing for houses for sale, we suggest you take a look at the National Heritage list. When a house for sale is included it means that it is not possible for the future homeowner to make changes to the property, both inside and outside.
Houses for sale Conditions – some properties, like new builds, need no repairs or works; other houses listed for sale may need some investment to restore them and some others may need a complete renovation. Someone looking for houses for sale should always think about how much time and money they are willing to invest to complete the needed repairs.
Always consider average rental yield when searching for houses for sale in Nottingham
In Nottingham, how has the number of houses changed?
Before committing to Nottingham to make a housing investment, an investor should always ask the question, what is the growth like in the area?
So take a look below at the growth patterns of the previous years displaying the percentage of new houses being built. This will help you understand how the number of houses for sale will evolve in the future.
|1 year||3 years||5 years|
|Nottingham growth rate||-8%||12%||14%|
Whether housing growth actually changes the price of a house depends on if the city in question is outstripping demand with the supply of new housing. You’d have to do some more research on what rate Nottingham is building housing to find your answer.
You may have heard of rental yield as being important for investors who wish to make a sizable profit on their rental properties. If this sounds like you and you’re looking to invest in a house currently for sale and collect rental income in Nottingham this statistic is what you were looking for.
Data should also be compared to the broader region of the UK (East Midlands) alongside Nottinghamshire then looked at with other statistics like the area’s rent and the turnover of sale of the houses in question. It could be that an investor prefers to make a profit on the sale of a house rather than the rental income and optimal properties for this investment varies throughout Nottingham.
This decision is made differently depending on the investor’s tolerance for risk, investing strategy, the location they’re investing in and their overall goal for buying a house currently listed for sale.
|Average Yield||Average Asking rent||Turnover (rental)||Turnover (sale)|
As you observe table above, it could be valuable to contrast these figures with other pieces of data relevant to the process of buying like the crime rate or the appreciation of houses for sale in Nottingham.
As you can tell, the best conclusions are drawn when the buyer of a house for sale looks at all the data involved holistically and doesn’t make quick decisions based on one or two pieces of data. As an example, comparing the data with the number of property sold per month (7) will be useful.