Property prices in Birmingham have been predicted to be some of the UK’s highest growing in 2017.
In the past, London has been a dominant performer in the UK’s property price growth. However, in 2017 a new analysis report has predicted that large regional cities will eclipse the growth seen in the capital. The three cities – Birmingham, Manchester and Edinburgh – are the front-runners for growth according to the report from real estate advisors JLL.
Birmingham growth
The UK as a whole is expected to have a slow growth throughout the coming year but there will be hotspots such as the three mentioned. The renewed attention in Birmingham is to come following the announcement that the city will receive a share of the first Housing Building Fund investment for 2,000 new homes.
Another report, the Deloitte crane survey, found that the amount of office space under construction in Birmingham has increased 50 per cent from last year – 969,000 sq ft to 1.4m sq ft. This marks the highest level of activity since the report began in 2002. With construction levels increasing for residential and business, the population is also expected to grow.
Moreover, as the High-Speed Rail approaches completion, property prices and demand in the area are expected to advance even further. The new train line will make a journey from Birmingham to London last just 49 minutes.
Birmingham landlords
All round growth is good news for current landlords in Birmingham and potential landlords looking to take advantage of the growth of the city. With new homes being planned and built, there are opportunities for landlords to begin or expand their portfolios.
Whether you’re an experienced landlord in Birmingham or are new to property management, a property inventory is necessary to prevent disputes at the end of a tenant’s tenure of a property.
Skribes is Birmingham’s leading independent inventory and property services specialists. We provide landlords with inventory reports, check-in reports, interim reports, check-out reports and legionella reports.
To find out how we can help make it easier to manage your property, call us today on 07891 551 905 or email info@skribes.co.uk.