Birmingham is a city that’s changing a lot. There are many newly built properties in Birmingham, and several new jobs are coming in. Because of this, people are looking to buy houses in Birmingham more than in other parts of the UK.
A report from a company called JLL says that between 2023 and 2027, house prices in Birmingham might increase by 19.2%. This is much more than the 8.9% increase expected for the UK. Moreover, Manchester is the only other city where house prices are expected to increase as much. This makes Birmingham a great place for people to invest in property.
This article will look at the new build property trends in Birmingham. It will help explain why people want to buy houses in Birmingham and how you, as a smart investor, can make the most of this.
Key Takeaways:
- Understand why Birmingham’s new build property market is thriving.
- Also know why it’s creating a rising demand for new build properties, making it a great time for investment.
Emerging Trends in Birmingham’s New Build Property Market
In the heart of the West Midlands, Birmingham’s property market is buzzing with activity. Fueled by urban redevelopment, transportation enhancements, rising job opportunities, increased infrastructure investment, and population growth, the city’s new build property sector is creating a stir among investors.
Let’s delve into each trend to understand its impact and potential:
1. Urban Regeneration Projects
The cityscape of Birmingham is transforming at an unprecedented scale. Massive urban redevelopment projects like the Paradise development in the city centre and the £500 million Birmingham Smithfield project are crafting new residential and commercial spaces. These transformations increase demand for new build properties that blend contemporary design with comfort.
2. Transportation Upgrades
With the forthcoming HS2 rail network, Birmingham’s connectivity to other UK cities, particularly London, is set for a significant upgrade. This improvement in transportation infrastructure attracts more people to the city, resulting in a heightened appeal for new build properties.
3. Rising Job Opportunities
The job market in Birmingham is on the rise. With recent recognition as the top city for job opportunities in the financial sector, after London, a wave of professionals are setting their sights on Birmingham. This influx drives the demand for modern, strategically located housing, putting new build properties at the forefront.
4. Strong Student Demand
Home to several universities and colleges, Birmingham’s large student population is a vital factor in the city’s housing demand. The steady increase in international students further fuels the need for new build student accommodations, offering modern amenities and convenience.
5. Increased Investment in Infrastructure
As more businesses and financial institutions choose Birmingham for their operations, the city’s demand for new residential and commercial builds surges. These developments are crafting an investment-friendly climate, perfect for those looking at new build properties.
6. Population Growth
Birmingham’s burgeoning population, predicted to grow by 171,000 by 2031, is another strong driver for new build properties. As more people call Birmingham home, the need for high-quality, contemporary housing is set to climb even further.
In a landscape of promising potential, however, navigating the market complexities and pinpointing the right investment can be challenging.
That’s where partnering with a trusted property sourcing company becomes invaluable.
Associate with Pluxa Property
Birmingham is a great place to invest in new homes, but having a partner who knows the area well can help. That’s where Pluxa Property comes in. They know a lot about Birmingham and have connections with many home builders.
Pluxa Property can help you make a plan that fits with what you want from your investment. They use the latest information to find new homes in parts of Birmingham, which are growing fast.
Every investor is different. You might want a property that can be rented out to students for a good profit, or you want a fancy flat in the city centre. Pluxa Property will help you find what’s right for you.
But their help continues beyond there. They’ll help you with everything, from choosing a property to dealing with legal matters and buying it. They’ll be there for you every step of the way.
By working with Pluxa Property, you’ll do more than just invest in Birmingham’s new homes. You’ll be part of a city that’s growing and changing. Grab this chance and start your own success story in property investment.
FAQs
What are the current trends in new build property developments in Birmingham?
In Birmingham, new homes are being built with certain trends in mind. These trends are influenced by changes in how we live and work and new projects in the city. Here’s a simple breakdown:
1. Affordable luxury: Home builders in Birmingham make fancy houses that are not too expensive. These homes are perfect for people buying a house for the first time, young people with jobs, and families. They are nice, but not too pricey.
2. Homes in the suburbs: Since more people are working from home these days, many want to live in the suburbs around Birmingham. These homes have more space and are in quieter, greener areas.
3. Homes near transport: With a new transport system (HS2) coming, new houses are being built near where the trains will run. This will make it easier for people to travel around the city and the rest of the country.
What types of new build properties are in high demand in Birmingham?
The type of new build properties in high demand in Birmingham is influenced by the city’s diverse population, which includes students, professionals, and families. Here are some of the property types that are currently in high demand:
1. Student accommodation: Given the large student population in Birmingham, new build student accommodations, including purpose-built student accommodation (PBSA), are highly sought after. These properties typically include modern facilities and are located near universities and colleges.
2. Apartments and flats: Modern apartments and flats are in high demand in the city centre and regenerated areas. These typically come with high-quality finishes and modern amenities. The demand is driven by young professionals and investors looking for rental income.
3. Family houses: New build family houses are popular in the suburbs and city outskirts. These typically have two to four bedrooms, providing more space and privacy for families.
Peter Juhasz is the founder of Pluxa Property, the biggest property investment company in UK and Group CEO of AIP Capital Group and a property investment expert with over a decade of experience in the UK market.
He built a successful property company using innovative cashflow strategies like Serviced Accommodation and HMOs, scaling to 200 units in four years.
Peter leads a team specializing in property and business acquisitions across various sectors. A former co-host of “Cashflow With Property,” he shares his expertise in real estate investing and business scaling.
He is committed to continuous learning and helping SME owners and investors maximize their returns, driven by his passion for empowering others to achieve their financial goals.
To learn how Pluxa Property can help you in UK property investment, contact our experts.
