Why Invest in New Build Property in Nottingham?
Nottingham is considered to be one of the best places to invest in property in the UK. But why is that, you may be wondering?
Here are a few reasons why looking for a property to buy in Nottingham is definitely worth your while:
- Growing yet affordable property prices -current average property price in Nottingham sits at £239,418; Semi-detached properties- £224,930; Detached properties –£362,221; Terraced properties –£171,635
- Strong rental market– A growing population of young professionals and around 60,000 University students drive demand for rental properties in Nottingham. So if you’re looking for a buy-to-let property for sale, Nottingham may be the ideal choice for you.
- Great Growth Prospects– Continuous regeneration & investments are improving the quality of life in Nottingham. As a matter of fact, Nottingham has one of the fastest-growing economies in the UK.
- Lucrative returns– Those looking for investment properties for sale in Nottingham now, can expect to reap great benefits from the Nottingham property market. With rental yields averaging at 5.6% and property prices showing strong growth, your investment surely won’t cause any great losses.
What to Expect From Your Investment Property in Nottingham?
With a large and ever-increasing population, investors can expect lower vacancy rates and increasing rent prices, suggesting a good rate of return on a rental property.
Another good news for property investors on the lookout for a property to let is that Nottingham is home to a large young population. The 18 – 29 population stands at 28%, compared to 16% nationally meaning there are plenty of opportunities to cater to this demographic.
In addition, about 80% of Nottingham’s population is under the age of 40, which is the target market of most buy-to-let property investors.
Looking to the future, Nottingham’s economy is projected to be 14.8% larger by 2027 and will retain its title as the fastest-growing economy across the East Midlands.
But what does that mean for you? This means any investment property in Nottingham is likely to bring good ROI over the next decade. Both from capital appreciation and rental income.
Who Should Invest in Nottingham Property?
For buy-to-lets and student properties, Nottingham offers a well of opportunities. Although, you should always keep in mind the prospective tenants’ demographic, needs & wants.
How to Find the Right Property to Buy in Nottingham?
Finding the perfect investment properties for sale in Nottingham is no easy task! With the overly saturated market and general perplexities, you can get overwhelmed if you’re not prepared.
In order to find the right piece of property here’s what you should consider before buying:
- Location- the more central the location of your Nottingham property, the more in demand it will be. It will also yield far higher returns than a poorly located one.
- Amenities & Layouts- Making sure that the property is carefully designed to offer practical, yet beautiful layouts that suit everyday life is of very high importance. Especially if you’re looking for a property to let in Nottingham.
- Trusted Developer- Generally, new builds, Nottingham included, are a smarter option for property investors. Having said that, when choosing a property to buy, taking a careful look at the developer and the project as a whole is a very important step. You want to be sure your money won’t go to waste.
- Price- As obvious as this consideration is, it’s not one to be overlooked. Nottingham property prices are at the perfect sweet spot but you should still make sure you’re not overpaying for a piece of property.
If you look to invest in a city with low prices of properties, high demands, and a lot of economical potential, Nottingham is the right choice for you.
Feel free to look at the property for sale in Nottingham on the website and contact us if you have any questions or help.