Newark and Grantham among up-and-coming places to live in East Midlands
Newark and Grantham are among up-and-coming places to live in the East Midlands, according to a new report by property experts.
With a shift towards home working as a result of coronavirus, and many companies giving up the overheads of offices, London workers are heading away from the city and looking for cheaper homes elsewhere.
With average property prices in the East Midlands being £241,749, they are £387,512 cheaper than the Greater London average of £629,261 — and often in places easily-reached by train.
The head of residential conveyancing at JMP Solicitors, Jacqui Harley, said: “With excellent transport links, the East Midlands is an ideal location for regular London visitors and a tranquil base to settle down with families or partners, while having regular fast trains to the capital."
Tim Downing, a director at estate agents Pygott & Crone, said: “Even before lockdown, the market in the East Midlands was buoyant, and it continues to do well at present with prices remaining steady. It has always been strong and fruitful, down to improving transport links and a fantastic lifestyle on offer in the region."
According to JMP Solicitors and Pygott and Crone, the top locations in the East Midlands for London commuters include Newark and Grantham.
Newark is listed at number four, with the river and market place highlighted as attractions, along with the castle and the market, and train times to London starting at 1hr 14min, from a price of £13.50.
The average property price is listed as £176,666 — about £60,000 cheaper than the East Midlands average.
Grantham takes the top spot in the list, with the fastest rail services into London and one of the lowest average housing prices. Train fares start from £12, and the average property price is £180,016.
Nottingham and Market Harborough are listed second and third, and Melton Mowbray and Lincoln come in at number five and six.