HOMES in Nottingham are on average more than £265,000 cheaper than in the capital.
The average home in London now costs £400,000 following a 25.8 per cent increase in the last year.
This is in comparison to the four per cent rise in Nottingham over the same time period making an average home worth £133,688.
Across the East Midlands, there has been an increase of nine per cent to £145,968.
However, both prices are lower than the national figure of £188,903 which has seen an 11.8 per cent increase making it the fastest growth in a decade following 14 consecutive rises.
Chris Pick, executive branch manager at estate agent Bairstow Eves in Maid Marian Way, insisted that the rising house prices were not putting people off.
"We see that schemes like Help to Buy (a Government scheme where people are able to buy a new or existing home with a five per cent deposit) are helping and there's a lot of inquiries about the scheme," he said.
"Some first-time buyers are also looking at their rents and deciding to look at buying, as long as they can find the deposit."
