Could East Midlands be the new rental opportunity location in England? Recent data from the ONS suggests maybe with rental inflation rising in the East Midlands rose by 4.8% in October 2022. This seems to be a consistent trend in this area – Rental price inflation in the East Midlands has been consistently above 4%+ since April last year
Across the nine English regions, annual rental price inflation grew in seven regions. The East of England and the South West were the only regions in which the annual price index fell back in October.
Nottingham is definitely a hotspot for Property Investors with strong capital growth potential, attractive rental yields and a sustainable student and growing young professional demographic, not to mention relatively affordable housing prices. There are a number of other reasons that make the East Midlands such a good investment opportunity
- The East Midlands is extremely well connected, with good transport connections to all parts of the UK. It is the UK’s focus for logistics and distribution industries.
- Availability and (relatively) low cost of land for development makes it attractive for business development and relocation – it is a popular for choice for businesses wishing to locate outside the south east.
- The region is more affluent than either the adjacent West Midlands or Yorkshire and Humber regions of England, with fewer deprived areas, according to ONS statistics. (In many ways it has more in common with the south east than its more industrial neighbours.) Several locations within the regional rank highly in quality of life surveys.
- Most important of all residential property here is still significantly cheaper than much of the UK and potentially offers good value to investors.
- While the East Midlands offers a wide range of residential property investment opportunities the main cities of Nottingham, Leicester and Derby all offer high levels of demand but property prices that are much cheaper than the national average
By Rob Stross Property Investor Media