The top 5 cheapest places to live in the East Midlands
Thinking of buying a home in the East Midlands with a small deposit? We reveal the five cheapest areas to live in this region.
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 £277,648, down 2% over the previous year.
While this is a lot, you can buy a home up to 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 April 2024.
Where are the cheapest places to buy in the East Midlands?
| Area | Average asking price |
|---|---|
| Gainsborough | £145,772 |
| Shirebrook | £160,198 |
| Bulwell | £162,544 |
| Boston | £179,027 |
| Old Basford £179,354 |
Gainsborough
Gainsborough is a market town in Lincolnshire with an average asking price of £145,772.
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.
Shirebrook
Originally where actor Jason Statham was born, Shirebrook is a town in Derbyshire with an average asking price of £160,198.
The town has nearby places of interest, including Shirebrook Woods and Willow Tree Family Farm.
Shirebrook is an hour and a half from Sheffield by train and over three hours from London.
Bulwell
Bulwell is a market town in Nottingham with an average asking price of £162,544.
In 2023, it was awarded nearly £20 million to help improve its town centre, including creating a new promenade.
Bulwell is half an hour away from Nottingham and around three hours from London by public transport.
Boston
Boston is a market town in Lincolnshire with an average asking price of £179,027.
There's much to do, including exploring Frampton Marsh nature reserve and Ark Wildlife Park.
The market town is an hour and a half from Nottingham and around two and a half hours from London by public transport.
Old Basford
Old Basford in Nottingham has an average asking price of £179,354. 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.
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
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