What £230k will buy you in different parts of Nottinghamshire

The property market in general is booming but “there has been a “real drop” in certain types of sales

The average house price in Nottingham currently stands at £233,016 according to Rightmove, with Nottinghamshire slightly under that figure at £230,166.

It’s big bucks but what can you actually buy for that price across the city and county and what should you be looking out for?

Three of Nottingham’s estate agents give their advice.

Location, as always, is a big factor when it comes to how much house or flat you’ll get for your money and Jules Hunt of FHP Living confirmed this but the age-old mantra of location, location, location needs to be thought about in context.

Jules says: “Yes, location is important but it all comes down to what you personally need and where you want to be.

“I’d say look around. Check out the facilities in an area and what you need, be it schools, shops or bars and restaurants and make your decision from there. In a cheaper area you will get more for your money property-wise and you will still get your growth in property prices – but it’s what suits you and what you need.”

Paul Sweeney, director at Robert Ellis Estate Agents, agreed that good location was a very personal decision. He said: “Following the pandemic the housing market has bounced back strongly, but what is interesting is that there is a shift in what is important when it comes to key features of a property – outside space in particularly and somewhere to work from home – but it still keeps coming back to location, location, location.

“Families want to be closer together for support at both ends of the age range, for grandparents moving closer to help out with child care and also for those later in life to have support of the family. This is leading to areas near good schools to increase in value moreover.

“Also local amenities are important… we can see this in Beeston in particular which now offers a wide range of food and beverage outlets for all tastes and a newly opened cinema. First-time buyers in particular find these features important and we have seen an increase in demand for the traditional terrace houses.”

Laura Wiles, the Nottingham valuer at SDL Property Auctions, added: “As with most regions, the difference in house prices is often down to good schools and good transport links”.

All three agents reflected on the strength of the market, Jules highlighted the rapid speed at which homes are selling and Laura on the areas that were creating the most interest at auction. But there were property types that weren’t quite as popular as some.

According to Laura: “The most desirable types of property selling by auction in the Nottingham area are certainly student HMO’s. The Lenton area and Beeston have had some fantastic results lately, and these areas are obviously highly populated with students as they’re close to the universities.

“Anything with a NG7 postcode at the moment seems to be highly sought after too. Plus Mansfield NG16, NG17 are locations that seems to get some fantastic results. They mostly sell to developers and investors who then operate them as buy to let’s.”

However, she also added that there had been a “real drop” in certain types of sales.

“I’ve seen a real drop in landlords buying your “normal” two up and two down terraces within Nottingham since the council brought in the selective licensing and had lots of conversations with unhappy landlords wanting to offload property because of it.”

While there is plenty of demand for property stock, it seems is low. However, we’ve spotted some fabulous homes on the market pitched at the average price in the area. From one-beds in West Bridgford up to a six-bedroom investment property in the city. Here’s what we found and all are priced at £230,000.

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