Click here to see how the property market in Nottingham is doing

How it rates

Nottingham was once a Saxon village called Snotta inga ham. Then William the Conqueror built a castle and Nottingham emerged as a significant settlement. Although glass, hosiery, bicycles, cigarettes and coal-mining were once staple industries, the city became most famous for its lace-making, and was renowned as a place where women outnumbered men.

Architectural gems

The late 20th century left a legacy of ugly buildings, but Nottingham Castle is still interesting. The original was replaced in the 17th century by a mansion, which has since become a museum and art galleries. At 60m high, the new Aspire, a landmark for the University of Nottingham, is the tallest sculpture in Britain.

What's new

The Old Dairy in the village of Brinsley comprises eight houses created out of a former farmstead by a local developer, Kean Group, and costs from £362,000 for a three-bed mews house; 01636 700071, www.keangroup.co.uk .

Travel

Nottingham has trams and is well connected by road and rail. Sheffield is an hour's drive away, Derby half an hour and Birmingham just over an hour. Trains to Birmingham take about an hour and 20 minutes, fast trains to London one hour and three-quarters. East Midlands Airport is within easy reach.

Quality of life

The living can be fairly easy, although some say there is not enough green space in the centre. The River Trent and canals are explorable by boat. There is cricket at Trent Bridge, and the Derbyshire Dales are near. But plans for an eco-town at Bingham are causing a row.

Smartest streets

The Park is an estate of grand 19th-century homes; FHP City Living (0845 223 9452, fhpcityliving.co.uk) has a five-bed mansion for £1.35million. Mapperley Park, a conservation area, is popular with families; semis are about £100,000. The suburb of Wollaton still has a villagey feel and West Bridgford is a pleasant small town.

Restaurants

Nottingham has more than 300, including the Michelin-starred Restaurant Sat Bains; World Service, offering modern British food in historic Newdigate House; and Chino Latino, described as “pan-Asian with a Latin twist”.

Nightlife

Lots of late bars, such as Bluu and Brass Monkey. A glamorous newcomer is the Hidden Bar at the Alea casino. Traditionalists prefer Ye Olde Trip to Jerusalem, reputed to be the oldest inn in the world. The Royal Centre has popular and classical entertainment; there is new drama at Nottingham Playhouse, and arty films at the Cornerhouse.

Education

There are two well-regarded universities and several higher- education establishments, but local schools are patchy. Trinity Catholic School and Fernwood are the best state secondaries. Nottingham High School (boys) and Nottingham Girls' High School are good independents. Our Lady of Perpetual Succour in Bulwell and Rise Park are the top primaries.

Working life

The city is a hub of cosmetics and pharmaceuticals, with Boots' HQ and a base for Reckitt Benckiser. Experian, Capital One and the universities are big employers. With local fashion designer Sir Paul Smith as figurehead, the city has a name for cutting-edge style.

Upside

Sophisticated shops, restaurants and nightlife make it the top city in the East Midlands. The cost of living and housing are low, there is a wide choice of property, and plenty of amenities for families, including Sherwood Forest.

Downside

Nottingham has a terrible (some say unjustified) reputation for violent crime - including gun killings. Its small size, with a population of 267,000, can make it feel provincial compared with cities such as Leeds and Manchester. Critics say the city centre has been ruined by too many flats.

At a glance

2.8%

The decrease in property prices in Nottingham over six months

10.5%

The increase in property prices in Nottingham over five years

16

The average number of viewings per sale in Nottingham

92.6%

The percentage of the asking price achieved in Nottingham

Source: Hometrack

4,000

Number of flats in the city centre

Source: Nottingham City Council

Times recommends

• Second homes: credit crunch casualty or money-spinner?
• How I built my own sliding house
• Top 10 incentives for house buyers