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Article 4 Drives House Price Growth in Broxtowe

28th Jun 2021

Category: Local property news

House price growth continues across the country, with one local area hitting the headlines for its 30% rise in prices. Why is Broxtowe experiencing a period of particular growth?

Although the property market continues to boom, Rightmove are reporting the first signs of slow down this month thanks to record prices and lack of choice. The market has been moving at an incredible pace and predictions are that it will remain robust, however with perhaps less of the frenetic pace seen in the last year.

Beeston

News outlets are reporting a particular drive in demand in rural areas. Hitting national headlines in this regard is the unlikely Nottingham area of Broxtowe. The Guardian reported this month that prices in Broxtowe have increased by 30% and suggest this is down to a rural appeal. However, this headline does not give the full picture of the area's recent growth. In our opinion it is more likely to be down to the imminent introduction of Article 4 to parts of the area. Article 4 will restrict permitted development rights of local property owners, meaning that many things people do to their land or houses without planning permission will be brought in to the realms of planning consent. This will likely be driving a rush in activity in the local market.

Beeston Centre

Broxtowe has long been a sought after choice for rental properties. Stretching across popular residential areas such as Beeston, Bramcote, Chilwell, Toton and Stapleford the area draws a diverse range of tenants from families to students.

Check out our area guide for Beeston here to learn more about the area.


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