Various studies in recent years have highlighted Nottingham as one of the leading cities for landlords across the United Kingdom. Landlords looking for affordable property options outside of London which provide ample opportunity for significant returns have found the East Midlands city to be more than accommodating.
At Holden Copley, we believe landlords can achieve success city in the city, and we are keen to help you see why Nottingham is number one for landlords.
The student population creates a platform for the Nottingham rental market
While there are many things which draw people to Nottingham and make it one of the most vibrant cities in the country, there is no denying the student population is an integral part of the area. The two leading Universities in Nottingham play host to around 65,000 students.
Figures suggest Nottingham has the second-highest proportion of student housing in the country. One in every 14 properties in Nottingham is a student home, with the city only trailing Exeter in this matter.
City Council Portfolio Holder for Planning & Housing, Cllr Linda Woodings, spoke about the student population of the city in 2019, saying; “As a city with tight boundaries and two universities, students make up around 15% of our population – higher than most places. So, it’s inevitable we will have a high proportion of student accommodation within the city, but it still only amounts to around 6% of all accommodation.”
Mark Moloney of TotallyMoney said; "With students flocking to university cities year after year and looking for a place to live, it’s no surprise the student market is a dependable one for landlords.”
Students enter the workforce and remain the local area
Of course, while the student population is a huge factor in the local lettings market, what students do when they graduate is another key factor in why Nottingham is a fantastic location for landlords.
With many students remaining in the local area after they have completed their studies, there is a high-standard pool of employees for local businesses to select from. This, coupled with a fantastic location in relation to the rest of the country, ensures Nottingham is a city that attracts businesses and other workers.
Nottingham has been flourishing in recent years
In turn, there is a vibrant rental market for young professionals and families across the city. There is also a prediction that Nottingham will continue to flourish. The East Midlands has performed well as a whole in recent years but according to financial services company EY, the Nottingham economy is tipped to expand by 2.1% each year through to 2023.
Even if these figures are adjusted due to dealing with the COVID-19 pandemic, there is a platform for Nottingham to flourish. This is comforting to landlords, and indicates significant demand will remain for rental property in and around the city.
We offer property management, property to rent and property for sale in Arnold, Woodthorpe, West Bridgford, Hucknall, Carlton, Wilford, Mapperley and throughout the Nottingham area. If you would like to arrange an appointment to help you negotiate the local buy-to-let market, please contact Holden Copley today.