Nottingham has some serious contenders for famous sons: think taking from the rich and giving to the poor, quality pharmaceutical establishments, as well as some serious fashion kudos and you’d be in the right area – the Nottingham area.
With Robin Hood, Paul Smith the fashion designer, and Boots all hailing from this city right in the middle of the country, and you can start to see the appeal of buying to let in Nottingham.
Nottingham is a city of innovation thanks to its two well-respected universities, as well as being home to two excellent art galleries: the Art Nottingham Contemporary, and the New Art Contemporary. It’s got a great music and nightlife scene and a buzzing university population.
Speaking of that university population, the city has an unusually skewed population with more than one eighth of the population being students and a higher than average proportion of working adults working in the service industry. The university itself is also famed, notoriously or otherwise, for its hugely imbalanced gender divide. In Nottingham, there are significantly more female than male students. This is perhaps a little unfair as the city comes in 16th place in a recent gender survey.
Whether the gender gap is a draw or not, Nottingham has something for everyone including a system of world famous underground caves.
Nottingham has also been spending a lot of money trying to rectify its chronic traffic problems. A comprehensive tram system is now in place that complements its already great links to London and other cities.
So where should you start your search for a buy to let property in Nottingham?
Bulwell has a higher than average renting population. A large, mostly council owned estate, Bulwell is a popular area for families on a low budget. If you’re looking to rent to this market, and are looking for value from your budget, then Bulwell could be what you’re looking for.
The area of Beeston and around, is very popular with students from Nottingham University. Think takeaways, pubs, wheelie bins and multiple occupancy housing and you have pretty much got yourself a clear picture of the area. If you’re looking to rent to students, Beeston is your best bet. Although Lenton is the most popular student area but we suggest Beeston could offer a slightly better yield.
West Bridgeford is popular with professionals and their families. Nottingham has a core group of academics and medics all of whom are likely to want to rent in good areas before purchasing their family home. If you’re looking to target this particular market, then West Bridgeford could be the place for you.
In summary, Nottingham has a diverse population of renters. There are plenty of markets available so if you’re trying to choose between student houses, low-cost homes, or more expensive family properties, Nottingham just might be the city for you. Furthermore, if you’re looking to target a specific market, or even if you’re looking to diversify your portfolio, Nottingham could also be a great option for you.
As ever, make sure you do your own extensive research before taking the plunge and buying to let in Nottingham.