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Cautious Optimism in the Nottingham Property Market

As the British and Nottingham property market navigates the ongoing economic turmoil, many Nottingham homeowners and landlords may feel uncertain about the future.

However, up-to-date data suggests that the 2023 property crash predicted by the many newspapers and the usual clickbait doom-mongers in the lead-up to Christmas on social media, may not be as bad as initially thought, and there are reasons to be cautiously optimistic.

According to property website Rightmove, the average asking price of a home for sale in the UK rose by just £14 in February.

While this might sound like cause for concern, asking prices remaining flat rather than falling could be seen as a positive sign for the year ahead. Remember that they are only what people are asking (and not necessarily achieving).

So, what exactly is happening in the Nottingham property market?

Is your Nottingham home bigger than 915 sq ft?

Nottingham Homeowners - Do you know how big your Nottingham home is?

What is the square footage of your Nottingham home?

Don’t worry, most of us don't - yet it could be fundamental as Nottingham home buyers
search for new homes.

50% of Nottingham house sellers in 2022 had only been in their old home on average 5 years and 47 weeks

The share of Brits moving each year has been declining since the late 1980s (when at one stage, people moved every eight years), yet since the pandemic's beginning, something has appeared to upset that trend.

Newspaper stories and social media posts painted a picture of homeowners moving from the city centres to its suburbs, from the suburbs to the towns and countryside around the UK. Areas like the Cotswolds and coastal towns around the country got swamped by the 'race for space', significantly affecting housing markets (including Nottingham).

But how many Brits moved? And how long had they been in their homes before they moved?

In Great Britain, there are 28.3 million households, of which 19.3 million are owner-occupied and 4.43m owned by private buy-to-let landlords.

Is Buy-to-Let in Nottingham Still Worth the Risk?

Over the last five years, life has become a little trickier for Nottingham landlords, with changes to their taxation status, mortgage interest relief and an additional 3% stamp duty for a buy-to-let property, and has made lots of Nottingham landlords ask themselves:

‘Is buy-to-let in Nottingham still worth the risk?’

Nottingham Property Market Update:
February 2023

 With the Bank of England raising interest rates and inflation high, what
is happening in the Nottingham property market?
 Are properties selling in Nottingham? And if so, what is selling?
 What will happen to the value of your Nottingham home?
 Read the article to find out what is happening to the Nottingham
property market.

As we enter February, the Nottingham (and British) property market is full of mixed

NAEA The Property Ombudsman Trading Standards DPS Zoopla Primelocation OnTheMarket CMP NAPSA Shortlist