Nottingham’s success as a commercial centre and as a major English tourism centre are just two factors contributing to its busy new homes market, which is currently bringing a wide choice of brand new properties to the city and its suburbs.
It is the largest city in the East Midlands, with a population of over 730,000, a figure doubled when taking into account its close neighbour Derby. Property price rises in recent years have shown its popularity with buyers, with the average home around £25,000 more expensive at the end of 2016 than three years previously. There appears to be a growing number of people moving to the area from around London to get far better value for money than close to the capital.
Chris Charlton, director and head of of national estate agency Savills says: “This is definitely a city on the up in terms of relocation, Commuting costs to London are pretty expensive, if you are going everyday it will cost you around £10,000 a year, so it is quite expensive, but prices here are good value.”
Other agents report positive trends in the commercial and retail markets, indicating Nottingham’s strength as for business and as a shopping focus. Innes England retail director Ben Taylor says: "Nottingham continued to be a top retail location last year, with retail in the city focusing heavily on intu and its two shopping centres. Zone A rents continued to rise in prime areas, including Nottingham's Clumber Street and intu Victoria Centre. Work to transform the Broadmarsh area started in January 2016, which will hopefully attract further investment in the area."
Nottingham Trent University and the University of Nottingham both have several campuses dotted across the city, and between them account for over 60,000 students. This presents a sizeable audience for suitable buy-to-let property in different suburbs, excellent news for the property investor. Property consultant at FHP Living, Oliver Marshall adds: “Lots of students come to study but then stay because it’s a great city and prices are still more affordable than other cities.”
Among the new homes for sale in Nottingham now are:
The last property for sale at Ethos, a development in Sherwood from Strata, is a ‘Siena’ detached home with four double bedrooms, kitchen/dining room, utility room, lounge cloaskroom and family bathroom, and comes with an integral garage. Help to Buy is available on this £289,995, reducing the requirement for a deposit and offering a 20% equity loan, as is Strata’s own Assisted Selling Plan. The development is open from Thursday to Monday, 10.00am to 5.00pm.
Barratt Homes is building at Edwalton Park in the south-east of the city, with a mix of two-, three- and four-bedroom homes. The first residents are due to take their new homes in the early part of 2017, while house-hunters will soon find three show homes to tour at the site. At present, the sales centre is open Monday from 12.30pm to 5.30pm and Tuesday to Sunday from 10.00am to 5.30pm, for a chance to see the choice of homes on offer and speak to the Barratt team about schemes such as Help to Buy. Prices here start at £244,995.
Nestled between Cotgrave Country Park and open fields is Hollygate Park, a development from David Wilson Homes. Cotgrave is only around eight miles east of Nottingham city centre, and this collection of three-, four- and five-bedroom homes for road access around the region as well as being one of a selwect few developments in the country to be awarded ‘Built for Life’ status, to reflect their excellent design and flexibility as a home to adapt to its owner’s needs over time. Current homes start at £362,995.
The same housebuilder is offering a similar mix of homes on the other side of Nottingham, near Strelley. Woodhouse Park is also open to visitors seven days a week. These homes are priced from £337,995 to £428,995. Some 90% of properties here have already found a buyer, so a visit soon is recommended to have the choice of those remaining.
Specialist retirement developer McCarthy & Stone offers options for buyers looking for something later in life. Some 80% of homes at River View Court have already been sold, leaving a range of one-bedroom apartments from £226,950 to £261,950. These assisted living homes for over-70s are located alongside the River Trent, with some lovely views. The site offers personalised domestic help for each resident as well as an owners’ lounge, table-service restaurant, dining room, sky lounge and a guest suite.
Close by, February sees the first arrival of residents at Century Court, a retirement living development with one-bedroom apartments from £199,450 to £208,950 and two-bedroom units from £272,950 to £303,950. A 24-hour emergency call system, guest suite and communal lounge are provided for people over 60, close to the shops, cafés and restaurants of West Bridgford and a couple of Nottingham’s prime sporting venues.
In the northern outskirts of Nottingham, in Hucknall, Persimmon Homes is building Hawkers Place, with an array of two-, three- and four-bedroom homes from £139,995 to suit many buyers’ needs. Only eight miles from the heart of the city, this collection is also well placed for Nottinghamshire countryside and access to the M1. Hucknall has a great range of shops and amenities of its own, too, so many things are pretty much on the doorstep. The development is open from 11.00am to 6.00pm, Thursday to Monday.
We recently took a look at the show home of Liberty, a Bellway development, and interior designer Niamh Connor took us through her opulent work on the property. The site will produce a collection of two-, three- and four-bedroom homes close to Wollaton Park, close to the city centre, currently priced from £136,995. As well as being well placed for good local schools, the site is close to the University of Nottingham campus, a plus for those considering a buy-to-let purchase.
Local estate agent Robert Ellis is marketing a collection of apartments in Beeston, known as Newlands House. One-bedroom units start at £135,000, two-bedroom units at £145,000, with 24 apartments in all and completion due soon. The development is close to a stop on the NET tram network and to Beeston station.
Spring Park from Bloor Homes is ideally located between the desirable areas of Mapperley Plains and Lambley Village and offers a broad range of properties, from two-bedroom starter homes to five-bedroom executive houses. It’s a ‘best of both worlds’ location, ideally located for countryside vistas and good transport links to the city centre and the region.