Trams in Nottingham Credit: David Reed
Trams in Nottingham Credit: David Reed

City-centre living is staging a comeback and Nottingham is one of the most in demand cities in the UK.

Buyer demand for flats increased by 39% since January, according to a website.

Rightmove have said that Nottingham is among the cities that have experienced buyer demand in their centres since the start of 2021.

It added that while larger family homes have tended to be the strongest performers in the housing market over the past year, the focus is now shifting to flats.

Buyer demand is measured by the number of people contacting estate agents to request more details about a property for sale on Rightmove.

The easing of coronavirus restrictions and the recent introduction of the Government-backed 5% deposit mortgage guarantee scheme are said to be helping to boost demand.

A Rightmove survey of more than 1,000 first-time buyers found nearly one in five (17%) are planning to use the mortgage guarantee scheme or are already using it.

The study also indicated that while the desire to move to a quieter location has been driving parts of the housing market over the past year, this is not as appealing to first-time buyers.

While more than a quarter (28%) of existing home owners planning to move in the next 12 months cited a move to the countryside or coast as their motivation, only 10% of first-time buyers were considering doing this.

Rightmove’s housing expert Tim Bannister said: “These are early signs but they certainly point to some good news for city centres across Great Britain, with a number of agents now telling me they’ve seen a marked uptick in demand from first-time buyers, and they’re managing to sell city-centre flats more quickly than in earlier months of the year.

“People starting to venture in to their local high streets and once again experiencing the buzz of their city centres, along with greater mortgage availability for first-time buyers, means city centres are staging a much-needed comeback in the market.

“Right now some buyers are able to grab a relative city bargain compared to the heady price growth outside cities, but these early signs of demand could be the start of city prices rising again.”

Below is the increases in buyer demand by property type between January and April 2021, according to Rightmove:

– Flat, 39%

– Bungalow, 30%

– Detached house, 26%

– Terraced house, 24%

– Semi-detached house, 23%

Here are city centres that have seen big increases in buyer demand between January and April 2021, with the percentage increase:

– York, 76%

– Norwich, 62%

– Sheffield, 57%

– Southampton, 55%

– Leicester, 53%

– Newcastle, 51%

– Nottingham, 39%

– Leeds, 39%

– Birmingham, 39%

– Inner London, 30%

– Oxford, 28%

– Glasgow, 28%

– Liverpool, 28%

– Chester, 24%

– Edinburgh, 23%

– Hull, 22%

– Durham, 17%

– Cardiff, 11%

– Manchester, 11%

– Bristol, 5%