Where to live in the East Midlands
Aside from enjoying the thoroughly uncongested roads of the East Midlands and the scenery of the Pennines, homebuyers will be cheered by the low property prices and the variety of places on offer.
From limestone cottages in picturesque villages among the rolling fields of Rutland to trendy luxury apartments in Nottingham’s Lace Market there are more than enough ideal locations to move into – but at about half the price of London.
For example, in Derby a chic little 2 bed terrace in the centre of town, perfect for a young couple making a first buy, would only set you back £100,000. In London that would not even buy you a lonely basement flat in Hackney.
Homebuyers could be forgiven for thinking that low prices means low quality. But this is not so. From the upmarket market towns like Melton Mowbray to the recently redeveloped period properties near Nottingham Castle you can find high quality properties oozing with historic grandeur at prices unseen below the Watford Gap.
Starting with Nottingham, according to Robert Billson from the local branch of estate agents FPDSavills, other than the cool flats in the Lace Market, the other top inner city location for luxury apartments is Standard Hill. Prices there start at around £180,000 for a 2 bed, 2 bathroom property.
Relocation experts Billson and Martin Boughton of County Homesearch both strongly recommend The Park Estate, born out of the former deer grounds of Nottingham Castle and featuring a range of modernised period properties.
Prices here are at the top end and probably mark the top city location to live in the East Midlands as a whole. Boughton says that £1m-plus for the top properties there is normal – but, for a 4 bed place which would make the residents of Richmond jealous, it is still a relative bargain.
For those seeking a more urban life in Derby or Leicester there are still decent properties on offer. In Leicester, it is the received wisdom that you head South for the best places, with Stoneygate, Oadby, Knighton and Thurnby considered the best parts of the city for period houses and more modern ‘executive’ houses. Prices range from £250,000 to £1million.
However, in Derby, the choice is a little more limited for large houses in the centre of town. Other than the terraces in the centre, local estate agent Elaine Matanle from estate agents Raybould & Sons recommends people head outside of town for larger well-appointed properties, especially to places like Duffield and Repton. However, she points out these more rural locations are seeing a lot of demand and property “flies”. Prices here are still well below London rates with a 4 bed in desirable Duffield going for £320,000-plus.
Despite the good value of homes in Nottingham, Derby and Leicester, Martin Boughton stresses that many young professionals prefer to head for the rural areas.
He says that particularly those with an interest in horses naturally find themselves looking to the East Midlands countryside where horse-related pursuits such as polo are very popular.
However, he stresses that those seeking to buy village properties in the Peak District, Vale of Belvoir or even Sherwood Forest should beware of the high cost of land, which is currently around £25,000 an acre. So, those hoping to have a pony as well as enough room to park the car should take this into account.
Top of the range prices in the villages vary from £450,000 for a four-bed period village house to £1 million for an ‘Old Rectory’ style redevelopment of a large historical building, although some far cheaper properties are also available.
Some professionals also choose to live with a little more urbanisation in the many small market towns with populations of between 10,000 and 25,000. This is a move which offers buyers a far wider choice of properties. Aside from the famous Melton Mowbray, the most well known of these includes Newark and Southwell in Nottinghamshire, Ashbourne and Bakewell (of Bakewell Tart fame) in Derbyshire, and Market Harborough in Leicestershire, where one can pick up a detached house for as little as £220,000.
So, whatever the budget or the preference for town or country, those moving to the east Midlands are bound to see yet another good reason for relocating from the Big Smoke to somewhere with a better quality of life.
And remember, although some people might not know where the East Midlands is, it is not so remote as to be cut off. It has its own international airport - the Nottingham East Midlands airport and is about 2 hours drive from London. When you add to that the high standard of living and the variety among the towns and villages all in all it must rank as one of Britain’s best-kept secrets.
Central Nottingham
| Detached |
£209,180 |
| Semi |
£116,500 |
| Terrace |
£91,000 |
| Flat |
£127,000 |
Central Leicester
| Detached |
£221,000 |
| Semi |
£131,750 |
| Terraced |
£108,600 |
| Flat |
£106,050 |
Central Derby
| Detached |
£203,150 |
| Semi |
£115,860 |
| Terraced |
£94,500 |
| Flat |
£98,600 |
Melton Mowbray
| Detached |
£218,800 |
| Semi |
£129,164 |
| Terraced |
£94,506 |
| Flat |
£98,600 |
Duffield
| Detached |
£212,300 |
| Semi |
£131,700 |
| Terraced |
£102,000 |
| Flat |
too few sales |
Market Harborough
| Detached |
£290,950 |
| Semi |
£131,700 |
| Terraced |
£102,250 |
| Flat |
too few sales |
Newark
| Detached |
£221,900 |
| Semi |
£112,600 |
| Terraced |
£91,900 |
| Flat |
£93,800 |
|
