Often known as the UK’s second city, Birmingham is home to 1.1 million inhabitants – with 5.75 million living in the wider region. The West Midlands Combined Authority notes that the economy of the West Midlands is worth around £ 80 billion.
Birmingham is in something of a special position when it comes to land prices. Although the West Midlands is only a stone’s throw from the far more costly south-east, prices for properties in Birmingham are more in line with the north. So, it could be thought of as something for property investors to note as an up-and – coming location.
According to reports, Birmingham’s average flat price is now £163,000–significantly less than both Leeds and Manchester assets. This marks an improvement of 5 percent in the last year and a gradual rise of 41.4 percent since the 2008 financial crisis.
There are some very strong factors that suggest good rental property will still be in high demand at Birmingham. ONS estimates say that by 2039 the 1.1 million population will rise by approximately 20 percent, or 200,000. Official estimates state that by 2031 Birmingham needs about 89,000 new homes, but land within the city itself has been planned for only 51,500.
A significant factor boosting the demand for rent in Birmingham is that it is one of the most popular destinations for people moving out of London. Reports state that more than 7,600 had done in 2019. The scarcity of property on the market also affects the rental sector, with demand for homes in the West Midlands continuing to outstrip supply.
Birmingham offers real estate investments that suit any form of investor. Here we’ll look at some of Birmingham’s most popular real estate investment areas, and at prices you can expect to pay.
The city centre of Birmingham is becoming increasingly popular with professionals who want to live close to work and all facilities in the city centre. Flats in Birmingham city center vary from new building blocks in locations such as the Mailbox area , plus conversions and period properties that are notable for the Jewellery Quarter.
Fringing the centre of Birmingham to the east, the Eastside is worth keeping an eye on . It’s in the Business Zone of Birmingham City Center and are intended for tremendous regeneration. The new Eastside campus at Birmingham City University was one of the first regeneration projects bu the new HS2 station will open in 2026 at Curzon Street and become one of the busiest in the network.
Digbeth now has a reputation for being a trendy, fashionable area – the Sunday Times has called it Britain’s coolest neighborhood – and it’s an area that attracts more attention from developers.
North of Birmingham city centre, the inner-city districts have some of the cheapest property prices in Birmingham. They are popular with landlords looking for budget buy-to-lets and being able to provide shared or HMO accommodation as well as good yields.
In Aston (B6), where Aston University also has a campus, the average selling price is £146,123 and yields are 5%. Average prices in Nechells (B7) are £105,495 and experts are saying that some of the highest property yields in the Greater Birmingham area can be expected here in the next five years.
Only just north of Erdington’s centre is a very large lower-cost residential area with tenants interested in finding lower-cost accommodation always on the lookout for living quarters (as well as landlords in search of a cheap house) . It is famous for its student lets too. Another advantage of considering property in Erdington is its great public transportation and motorway links into the area.
The Athlete’s Village will be built at Perry Barr for the Commonwealth Games in 2022. This village will be utilized to provide 1,400 new homes after the games. Public transport, a new railway station, new shops and other regeneration will also be improved here, boosting the wider Perry Barr property market.
The suburbs of South Birmingham like Edgbaston, Selly Oak, Harborne and Moseley are some of the most prominent residential mid-market suburbs in the area. They draw professionals as well as families preferring to live outside the city centre. Some of the locations have a trendy ‘village’ feel – Moseley has been called one of the best places to stay in the city by the Sunday Times.
Birmingham University still has its campus at Edgbaston and some places are famous for student accommodation – but in recent years some students have been attracted to the city centre and more families have gravitated towards the area.
Sutton Coldfield – or The Royal Town of Sutton Coldfield to use its full title – is technically a city in its own right, though still within the district of Birmingham. It is one of the more affluent areas of Birmingham and is very popular with families because of its good schools and easy commuting – every 10 minutes there’s a 20-minute train ride to Birmingham New Street that residents can hop on to get to work fast.
Often known as the UK’s second city, Birmingham is home to 1.1 million inhabitants – with 5.75 million living in the wider region. The West Midlands Combined Authority notes that the economy of the West Midlands is worth around £ 80 billion.
Solihull is one of the more upmarket and souht after residential areas in Birmingham, too. It is also an autonomous borough, and very different from the surrounding area. Solihull is cheaper than Sutton Coldfield but still at the high end of property prices in Birmingham and an excellent choice for those considering long term rental investment at the higher end of the scale.
Finally, investors interested in Birmingham should be keeping an eye on the Birmingham Airport sector. There will also be a new HS2 station and transport hub opened here, as well as the completion of the ongoing airport expansion programme. Plans for a large-scale urban development of 4,000 + homes known as the UK Central Hub are also in progress.
Due to the pandemic there have been property investment hotspots. Since then there are cheap houses in Birmingham and in general property investment in Birmingham has been quite popular. So yes, Birmingham investment is a good choice.
Property investment in Birmingham has risen by 5.8% in the past 12 months. Surrounding cities also experienced an increase.
“Student property investment birmingham” is popular because student property will always be needed. It provides Birmingham property investors with a consistent flow of money while the student is in school.
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