The top 5 cheapest places to live in the East Midlands

The East Midlands offers a good quality of life and easy access to major cities and the countryside. This region includes cities such as Nottingham and Derby.

The average property price was £281,231, up 8% over the previous year.

While this is a lot, you can buy a home for 50% less than the regional average if you know where to look.

Rightmove has shared the most affordable places to live in the East Midlands, based on data from May 2023.

Where are the cheapest places to buy in the East Midlands?

Leicester City Centre

At the top of the list is Leicester City Centre, with an average asking price of £128,988.

There’s much you can do in the city, whether you want to enjoy local food and drinks, explore the Old Town, Leicester Cathedral or even Belvoir Castle, where afternoon tea was invented.

There are many green spaces nearby, including Victoria Park, Abbey Park and Aylestone Meadows Local Nature Reserve, so it’s ideal for families.

Derby City Centre

Another city, Derby, is among the most affordable places to live in the East Midlands. It has an average asking price of £130,864.

The city offers a range of attractions, such as theatres, museums, and riverboat trips.

There are also many activities available for a family-friendly day out, including the Heights of Abraham and Elvaston Castle Country Park.

Gainsborough

Gainsborough is a market town in Lincolnshire with an average asking price of £137,441. You can get to Lincoln in 20 minutes or to Sheffield within an hour by train.

Local attractions include Gainsborough Old Hall, the Heritage Centre, Gainsborough Model Railway, and Lincolnshire Wolds.

New Basford

New Basford in Nottingham has an average asking price of £148,058. It is a 25-minute journey from the city centre by public transport.

The area has many nearby shops, bars, restaurants, and green spaces, including the award-winning Arboretum, Nottingham’s oldest public park.

Forest Fields

Finally, Forest Fields in Nottingham has an average asking price of £153,076 and is only 15 minutes from the city centre by public transport.

It is also only a short walk from New Basford, another of the most affordable places in the East Midlands. This area has many pubs and eateries nearby, as well as Forest Recreation Ground.

While the price you pay is important, it isn’t everything. Having a good idea of where you want to live and whether the area and property will meet your needs is essential.

Talking to a mortgage broker can make the house-buying process easier and they can find the best deal for you.

See also:

The most expensive places to live in the East Midlands

The cheapest places to live in the West Midlands

The most expensive places to live in the West Midlands