If you’re considering starting a property portfolio, or expanding your existing one, you can do no better than investing in the Birmingham property market. But what makes the city so special, and why is buy-to-let property becoming such a popular form of investment across the UK?
Rental supply is low, yet demand is high, making now the perfect time to invest in buy-to-let property in Birmingham! In fact, the Birmingham property market saw the most significant surge in tenant demand in 2021, with rental enquiries increasing by 51% since the end of the pandemic.
Even more important is the recent Stamp Duty reduction which has been introduced by the government to help mitigate the impact of the cost of living crisis, making it more financially viable for investors to begin or expand their buy-to-let portfolio. After all, even in a recession, property can be a robust asset class since everybody needs a place to live!
But why choose Birmingham for your next investment?
There’s more to Birmingham than just the city centre! Here are the five other areas you need to know about before deciding where you want to invest…
This leafy green suburb is the height of class in Birmingham and is home to an abundance of lavish detached properties. In fact, some of the city’s most expensive roads are situated in Edgbaston: Carpenter Road, Farquhar Road and Richmond Hill Road are among some of the most popular, established and expensive roads in the West Midlands. Edgbaston is serviced by the Queen Elizabeth Hospital, home to the largest single-site critical care unit in the world, as well as a range of privatised facilities such as the Priory Hospital and Edgbaston Hospital: there truly is a healthcare option for everyone.
The status of the suburb has been propelled by the renowned University of Birmingham – a Russell Group institution whose campus spans acres of Edgbaston’s greenery. Old Joe, the University’s famous clock tower, is the tallest freestanding clock tower in the country, and can be seen from far and wide. For younger students, Edgbaston is home to some of the most renowned schools in the region – Edgbaston High School for Girls, The Priory School and St. George’s are all fantastic options for locals. With such fantastic local amenities, it’s no wonder that Edgbaston is a prime spot for investment. Transport investment has flourished in Edgbaston – from the renovation of University train station, to the extension of the West Midlands Metro line into the heart of Edgbaston.
Birmingham’s Jewellery Quarter is among one of the most stylist neighbourhoods in the region thanks to its fusion of industrialism, history and modernity. With many of the buildings across the neighbourhood – especially in St. Paul’s Square – being listed, the Jewellery Quarter pays homage to its history through its stunning architecture. The ‘Quarter is primarily home to apartments, which are typically constructed within old workshops and listed buildings, thereby endowing property in this neighbourhood with an abundance of character. However, there’s more to this neighbourhood than just aesthetics: with its own train station, West Midlands Metro stop and ample bus services, the ‘Quarter is easily accessible from across the broader region.
The Jewellery Quarter is home to a variety of businesses, including a huge range of independent jewellers, retailers, cafés, bars and restaurants. The region’s rich history is even celebrated in its own local museums, namely the Pen Museum and Museum of the Jewellery Quarter. The area does not just pay homage to its past, but is planning for a vibrant future, with a variety of new property developments in the works and neighbourhood development plans scheduled for the coming years.
However, the ‘Quarter is equally as viable for families, with the Jewellery Quarter Academy being a fantastic option for local families. Similarly, older students with a passion for the creative arts will enjoy Birmingham City University’s ‘School of Jewellery’ which draws upon the expertise and culture that permeates the Jewellery Quarter to provide a quality education for aspiring jewellers.
If the Jewellery Quarter is the stylish neighbourhood of Britain’s second city, Digbeth is its innovative counterpart. It similarly infuses its industrial heritage with its futuristic vision, pushing Birmingham towards an innovative future. Digbeth is infused with vibrant street art, pioneering businesses and endless creativity, making it the perfect place to live and work for those working in the creative sector. Much of the region’s properties are apartments, constructed within previously dormant manufacturing spaces, thereby creatively repurposing otherwise vacant spaces. As with the Jewellery Quarter, Digbeth’s homes are reflections of their industrial past, albeit with a more rugged twist.
Digbeth is easily accessible from Birmingham city centre, with the Bullring being just 10 minutes away by foot and Birmingham Coach Station being located on Digbeth High Street. Once you’re in Digbeth, there’s plenty to do – visit the unique creations at Cow Vintage, explore the artistry at the Eastside Projects, or unwind with retro games at the Roxy Ball Room.
With Digbeth already pushing the boundaries of art and culture in Birmingham, it’s no shock that the BBC have relocated their city offices to the heart of this new creative quarter. This will surely bring more jobs and opportunity to the area, which will be catapulted into the spotlight by the upcoming Curzon Street HS2 station, which will similarly contribute to Digbeth’s broader regeneration and produce a surge in demand for property in the area.
Just beyond Edgbaston is the village-like suburb of Harborne, which has become a popular destination for families. Unlike the Jewellery Quarter, Digbeth and the city centre, Harborne has a higher concentration of all property types, not just apartments, contributing to it’s village-feel. Families will also benefit from the fantastic nearby schools such as Harborne Primary, Blue Coat and Harborne Academy. Even better are the parks and recreational activities near Harborne, such as Grove Park, Queens Park and Harborne Nature Reserve. The Botanical Gardens are also a short drive away following the main high street, making Harborne a fantastic base to access Birmingham’s range of amenities and green spaces.
At the heart of Harborne are its many shops, cafés and restaurants: from Waitrose and M&S, to high-street staples Costa, Greggs and Café Nero, and upscale establishments such as Harborne Kitchen. What’s more, getting to Harborne couldn’t be easier with multiple bus stops on the main high street, the nearby Tram Stop at Edgbaston, and University station just a few minutes’ walk away.
As the home to Birmingham’s Gay Village, Chinatown and Theatreland, Southside is becoming an important location for smart investors, especially those looking to purchase city centre flats and apartments. The region benefits from all the amenities of Birmingham City Centre, namely the fantastic transport connections, but with a far more distinct cultural identity. Young creatives and working professionals alike have been drawn to Southside’s outstanding cultural identity and breadth of diversity, which makes it a brilliant location to experience the bright, beating heart of the city. From Birmingham Pride and the variety of acts at the O2 Academy and Birmingham Hippodrome, to the diverse offering of bars and restaurants, residents and visitors alike will always have something to do in Southside! Even better, Southside is undergoing constant regeneration, including the creation of new public spaces and more abundant greenery, namely Hippodrome Square.
Let Centrick help!
Our team of property experts live and breathe everything about the Birmingham property market – after all, our homes and jobs are here in the heart of the city! Our team of investment experts are able to find the best unit for your needs, whilst our lettings team can help you find the perfect tenant to secure the yield you’re aiming for. Find out more about our comprehensive service by contacting us using the form below:
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