Birmingham property market ahead of the Capital as demand outweighs supply by 15 to 1
- Birmingham ranked higher than London in relation to house price growth (Knight Frank)
- In Birmingham we have experienced an increasing level of interest, approximately 15 buyers to every unit (Surrenden Invest)
- New “B5” development on Birmingham’s Southside offers highly sought after B1 postcode (Surrenden Invest)
With the new tax year now in full swing many B2L investors will be reassessing their portfolios and future residential offerings in relation to the government’s removal of financial relief.
How much of an impact this will have on the UK’s property market is yet to be determined. However, many cities across the country are still providing investors with enticing opportunities, sure to encourage a positive year for the market.
And currently it’s the UK’s regional cities with the most to offer. According to Knight Frank’s most recent Global Residential Cities Index, both Birmingham and Manchester are ranked higher than London in relation to house price growth.
Jonathan Stephens, Managing Director of property consultancy Surrenden Invest, is confident that the introduction of the government’s tax changes will not dampen the growing positivity surrounding the UK’s regional property market. He explains,
“Whilst there may be a slight sense of uncertainty surrounding the B2L market as these tax changes are introduced, we expect them to deter only a minimal amount of investors, with the majority of the market continuing as normal. We have just launched a number of exciting projects that will appeal to great deal of investors and ensure a consistent growth within the market.
“In Birmingham alone we have experienced an increasing level of interest, with approximately 15 buyers to every unit available. And this demand does not look set to falter anytime soon. Birmingham is benefiting from substantial investment in infrastructure and development and extensive job creation as many businesses move to the city. We would expect demand to continue on a positive trajectory, especially in prime, central locations in both Birmingham and Manchester.”
SurrendenInvest’s most recent addition to the Birmingham market is the contemporary “B5” development on the city’s Southside, boasting the sought after B1 postcode. This area attracts a wealth of young families, professionals and tourists who are all keen to experience its creative and urban atmosphere.
The iconic Bull Ring Shopping Centre is just a couple of minutes’ walk away and with New Street station only a 5 minute walk away, “B5” offers an excellent living opportunity to a growing rental market. With prices starting from just £155,000, all 100 apartments have been specifically designed for the shared rental market and will include features such as video entry access control, custom built kitchens and hard wood flooring.
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