Nottingham property market defies Brexit fears
Despite uncertainty in the UK’s property market following the EU referendum and the change in stamp duty earlier in the year, Nottingham’s property market is stronger than ever as FHP Living’s city centre team, based at the Weekday Cross office, celebrates its strongest year to date.
The team which focusses on the city centre market has seen a 54 per cent increase in sales compared to 2015 and property consultant, Oliver Marshall, is pleased that the national and international policy changes have not affected the city’s resilient property industry.
He said: “We’ve had an incredibly strong year and I’m delighted that we’re celebrating our best to date, with more than 80 properties sold in the first three quarters alone.
“Nottingham has proved itself to be a city worth investing and living in, with an almost even split between those buying here looking to invest as to those buying to live – and it’s easy to see why. It’s a strong market for first time buyers with comparatively more affordable properties than the south of the country, properties achieving a very good yield for investors and the city itself being a vibrant and exciting place to live and work.
“Due to the general lack of stock being experienced across the East Midlands, properties are selling very quickly and at a very good price – with FHP Living achieving almost 98 per cent of the asking price within the city centre market.
“We have dedicated property specialists who focus on and work across the Park, Mapperley Park and the city centre and we’re all experiencing a similar trend. It’s fantastic that, despite the concerns the property industry was facing at the beginning of the year, we’ve achieved such incredible results as a business.
“I’m confident that we’ll see this positive trend continue into 2017 and would encourage anyone thinking of putting their property on the market not to miss out on the privileged position they’re currently in.”