With a wide range of large and small housebuilders at work from its centre to numerous suburbs, Nottingham is sure not to disappoint house-hunters aspiring to a new build home.
The city’s current development plan aims at the creation of 11,500 new homes between 2008 and 2020, with the aim of increasing the family home stock to 35% overall.
It also has big commercial ambitions: designated one of six UK ‘science cities’ in 2005, the city has attracted companies in a wide range of disciplines, especially life sciences and low-carbon technology. For many years, it has also been headquarters of a diverse range of businesses, from Boot’s (founded in the city in 1849) and betting company Gala Group to Imperial Tobacco and credit card providers Capital One.
Property industry data specialists Hometrack reported annual price inflation in Nottingham of 7.8% to the end of February – one of the highest rates it has seen for over a decade. The average price in the city is £134,400.
Its many employment opportunities give its student population – currently around 61,000 combined at Nottingham Trent University and the University of Nottingham – reasons to stay after their courses have finished. At both undergraduate and post-graduate stages, there’s a sizable rental market for buy-to-let investors to benefit from, and demand for starter homes once the former students are in a strong enough financial position to buy.
The M1 passes close to Nottingham, providing a connection between London and Leeds and giving the city’s residents convenient access to numerous towns and cities en route and elsewhere on the motorway network. The city’s station serves destinations all over the country with direct services, including a journey time of as little as an hour and 45 minutes to London St Pancras.
New homes for sale in and around Nottingham:
Priced from £127,995, there’s a wide choice of home types to consider at Manor Gardens, a Keepmoat development within walking distance of Nottingham city centre. In all, 103 new homes will be built here, with a selection to two- and three-bedroo, properties providing a great mix of starter homes.
Woodhouse Park is a new community of three-, four- and five-bedroom family homes located five miles from the city centre, on the edge of countryside and close to the M1 for excellent road connections to the spine of the country. Barratt and David Wilson Homes are working side-by-side with a wide range of property designs and specification to meet almost any budget. Barratt’s current selection starts at £154,995, while the David Wilson Homes availability starts at £414,995.
Developer Crosslane is offering 23 apartments across five floors, starting at £125,000, at an office-to-residential conversion. Drapers Gate is on Hounds Gate, a quiet corner right in the heart of the city, within easy reach of shops and leisure options.
Just three miles from the city centre, in Sherwood, Strata is building three- and four-bedroom homes at its Ethos development, opposite City Hospital. Buyers will find a mixture of two- and three-storey detached and semi-detached homes, with prices starting at £184,995.
The western suburb of Wollaton is where Radleigh Homes is building The Grange, a boutique development of 14 three- and four-bedroom homes launching this spring (prices to be announced). The location offers easy access to the city centre and M1, appealing to a wide range of buyers.
At Greendale Gardens in Hucknall, to the north of Nottingham, Oakdale Homes is building 23 two-, three- and four-bedroom homes within easy reach of the town’s shops, schools, market and pubs. Hucknall offers a regular tram service and train links to Nottingham and Worksop
A new development in central Nottingham is coming to market soon, with interested buyers urged to register with developer Blueprint by 12 April. The Fruit Market is a £7m scheme of 40 new homes, 15 of which will be for sale on the first phase, with prices anticipated to start at around £180,000. The front of the development overlooks Victoria Park, one of Nottingham’s largest green spaces.
The recent international property fair, MIPIM, saw a major Nottingham regeneration site officially launched. The Boots Enterprise Zone in Beeston, in the south-west of the city, has secured outline planning permission for 900,000 sq ft of commercial space and up to 675 new homes. "This site is hugely important for the regeneration and growth of Nottingham and one of the most significant to come to market for a number of years,” says Tim Garratt, managing director of the company marketing the scheme.