You’ve probably seen the headlines: the housing market has slowed down. Nationally, that’s true. But the East Midlands doesn’t quite fit the story. Fewer sales are going through here too, yet prices across Nottinghamshire, Derbyshire and Leicestershire have held up better than in most of England. Here’s what’s actually happening, and what it means if you’re buying or selling.
Are East Midlands house sales really down?
Yes. Zoopla’s House Price Index for June 2026 puts sales agreed across Great Britain 7% below last year. The East Midlands is one of the regions where the drop is sharper still, down more than 10%, in the same company as Wales, the South West, and the East of England.
Mortgage rates are the main reason. They climbed to around 5% in April before easing back to 4.8% by May, and that spike alone was enough to push some buyers, especially first-time buyers, to the sidelines.
But prices haven’t followed sales downward
Here’s the part that doesn’t make the headlines. Official ONS figures show the East Midlands recorded the highest annual house price growth of any English region in the 12 months to March 2026, up 0.7%. Modest, but real, at a time when London prices fell by 2.1% over the same period.
We think that’s the story worth telling. Buyers are more cautious, but they haven’t walked away, and sellers here aren’t being forced into the price cuts we’re seeing further south.
Nottingham, Derby, and Leicester aren’t moving at the same speed
The region isn’t one market, and it doesn’t behave like one.
- Leicester: one of the East Midlands’ stronger performers. Zoopla’s 2026 outlook flagged it for low levels of price cuts and low unsold stock, even though homes there took around 59 days on average to find a buyer.
- Derby: more price-sensitive. Buyers are getting choosier, so a realistic asking price matters more here than it did a year ago.
- Nottingham: comparatively affordable. ONS figures put the average Nottingham house price at £192,000 in March 2026, well below both the East Midlands average of £242,000 and the UK average of £268,000. That gap is doing a lot of the work in keeping demand steady.
If you’re selling in Nottingham, Derby, or Leicester, your local market matters more than the regional headline.
What this means for you
Selling? Price it right from the start. An overpriced home doesn’t just sit longer; it starts to look like something’s wrong with it. A realistic price now beats a reduction in month three.
Buying? You have more room to negotiate than you would have had two years ago, especially in Derby. Get a mortgage agreement in principle sorted before you start viewing, so you can move fast when you find the right place.
Either way, instruct a solicitor early. A slower market has less patience for chains that stall, and the paperwork you sort out before you’ve even agreed a sale is the paperwork that saves you weeks later.
Why come to Nelsons for your move
We were named Conveyancing Firm of the Year for the Midlands at the 2024 LEAP Modern Law Conveyancing Awards, and we’ve held Lexcel accreditation since 2005. That’s not us blowing our own trumpet; it’s the reason clients across Nottingham, Derby, and Leicester trust us to keep their move on track.
We’re straightforward, we’re quick to pick up the phone, and we won’t bury you in jargon. Whether you’re buying, selling, or doing both at once, our conveyancing team will keep you updated at every stage, not just when something goes wrong.
Get in touch
Chris Huntingford is a Partner at Nelsons and heads our expert Residential Conveyancing team. Chris advises on a wide range of matters, including house sales and purchases, auction property purchases, remortgages, transfers of equity and right-to-buy purchases.
Buying or selling in the East Midlands? Contact one of our conveyancing solicitors in Leicester, Derby, or Nottingham on 0800 024 1976 or via our online form.
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