Nottingham revealed as UK’s best spot for homebuyers who want a thriving indie retail scene
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New research by estate agent comparison site, GetAgent.co.uk, has analysed the number of independent shops found across 15 major UK cities to find which presented the most independent retail offering for homebuyers, before refining the list based on those areas with a below-average house price.
Despite London dominating the independent store scene in terms of pure numbers, with a far higher population, this amounts to just 3.7 indie shops per 100,000 people and with an average house price of £542,311, the city comes in 84% more expensive to buy a home when compared to the current UK average.
Both Bristol and Edinburgh are also home to some of the highest levels of independent shops equating to 21 per 100,000 people in Bristol and 14.4 per 100,000 people in Edinburgh. But with an average property price tag of £365,658 and £334,113 respectively, they also cost considerably more than the national benchmark.
Leeds is home to an average house price some -16% below the national average and it also has the third-highest total number of independent shops on the list at 72. However, with a population of 809,036 people, this equates to just 8.9 independent shops per 100,000 people.
Nottingham ranks top as the independent enthusiast homebuyer hotspot of the UK. The city is home to an average house price of just £192,170, some 35% less than the UK average. What’s more, the city also boasts 53 independent shops, equating to 21 per 100,000 people - the second highest proportion of all cities on the list behind Bristol.
Newcastle and Manchester also rank within the top five in terms of the highest proportion of indie shops, with Newcastle home to 12.1 per 100,000 people and Manchester boasting 10.7 per 100,000 people. Both cities are also home to a more affordable property price tag, coming in 35% and 20% below the UK benchmark.
Colby Short, Co-founder and CEO of GetAgent.co.uk, commented:
“While the Waitrose effect may have been a draw in previous years, we’re seeing more and more homebuyers value a thriving independent scene when looking to buy in a given community.
"Whether it be a unique nightlife, boutique stores, or independent eateries, indie shops provide a wider range and a more diverse offering when compared to big brand stores.
"They also encompass a greater sense of community, and this has become increasingly important to homebuyers since the pandemic.
"So move over Hackney, Nottingham is the nation’s best spot for hipster homebuyers when it comes to the highest proportion of indie shops and house price affordability.”