As the second-largest city in the UK, Birmingham has experienced increased rental prices and growth. With the implementation of the long-awaited HS2 project, the city has well-established links to London and is seeing a rise in its population. Its Midlands location and established transport links contribute to its population growth.
New construction in Birmingham will suit your needs, whether you’re a first-time buyer or an experienced one.
There is a growing trend for investors to choose the city as a location for their investments. The Birmingham housing market has remained one of the strongest in the country lately, and now with many new apartments in Birmingham for sale, it has led investors to make the most when investing in Birmingham homes. As a result, the market has been going through a growing gap between supply and demand levels.
Fortunately, if you are an investor looking for a newly constructed property for sale in Birmingham, you have a wide range of options. Whether you seek a terraced house or a detached property for sale in Birmingham, this article will prove useful.
This article provides an overview of all the information you need before finding new-build properties in Birmingham for sale and about the latest developments in Birmingham.
New-Build Houses in Birmingham for Sale
As the UK’s second-largest city, Birmingham offers various sights, attractions, and whatnot. With new houses in Birmingham for sale, many foreign investors are showing interest in the property.
The key thing that sets this location apart is that 50 festivals in this area are held throughout the year, and there are always several gigs and concerts, which significantly increase the prices, resulting in high ROI.
The city has numerous shopping centers and commercial areas, including the famed Bull Ring, a place for markets for centuries. In addition, Selfridges, one of Europe’s top malls, is located in the building, one of Europe’s top shopping centers.
Birmingham offers interesting investment opportunities to all investors. This is because the rent percentage of housing exceeds its purchase percentage. This means that natives are buying houses at a lower rate than renting (a difference of 6%).
By exploiting this market to benefit residents and raise living standards, the investment community could make significant profits.
Steady growth in Birmingham real estate allows investors to purchase investment properties at competitive prices, and the market continues to grow. In this regard, the property is an excellent investment opportunity for new investors seeking to get their feet wet and anyone seeking a stable source of income from rental properties.
Birmingham’s New-Build Market Is Developing at a Fast Pace
Birmingham’s regeneration continues to gain momentum, and new-build residential properties are still in high demand as investors and homebuyers take advantage of the opportunity.
At the moment, Birmingham is one of the most promising cities for regeneration and redevelopment in terms of its potential for regeneration and redevelopment. It has been further driven forward by the Commonwealth Games in 2022 and the upcoming arrival of HS2 on schedule to be completed in the next few years.
As part of the future vision for the city, several new developments are set to be built or are currently underway in the city’s new-build market, which is expected to perform strongly in the future.
Recent research by Unlatch has shown that several regions in the UK have a strong demand for new-build properties, where investors and developers alike are rapidly spotting new property hotspots. Further, buyers will have to pay a premium to get a foot on the investment ladder in Birmingham.
How Does the Scenario of New-Build versus Existing-Build Cost Differ?
Among new properties in the UK, Unlatch’s data shows that the average price per square foot of brand-new properties is £261, while the average price per square foot for existing homes is £236. This represents an 11% difference in price between the two categories.
Research indicates that these differences are even more pronounced in Birmingham. As a result, some of the key regeneration areas of the city are at the moment experiencing a high number of newly built properties being sold and built in these areas.
The average price of existing properties in Birmingham’s Jewellery Quarter, which falls over the B18 postcode area, varies between £191 and £386 a square foot, with the price of new homes in the area averaging £386 a square foot. The price gap here is 102.1%, which represents a huge difference.
As for new-build premiums, B32 is the next most popular postcode west of the city. The British Home Inspectorate found that new houses are 71.6% more expensive than old ones. New-build properties have a lower cost per square foot than existing ones, typically costing between £197 and £150.
Several other areas were significantly different in terms of their price differences.
Conclusion
Although buying a property is quite challenging, hiring a real estate expert is recommended to help you along the way.
So if you are looking for the best investment advice regarding real estate property, Pluxa Property is your best option. With our great offers on new-builds and apartments in Birmingham, we guide you to buy a new house or apartment easily. Our property management services have been helping investors and landlords manage their properties effectively for over ten years.
If you are considering buying a house to rent, make a wise decision to achieve financial success in your property investment.
FAQs
Why are so many houses being built in the UK?
There are not enough existing homes for the high demand, so builders have been busy trying to fill the gap. Due to the low mortgage rates and the prevalence of remote work, real estate has seen a surge in demand since the start of the pandemic, which cannot be attributed to the low-interest rates.
How do you officially name your house in the UK?
The usual procedure is to contact the local council department responsible for naming and numbering streets. The department will verify whether or not the name you wish to use is already in use locally.
What is affordable housing in the UK?
Affordable housing, whether available for rent or sale, is aimed at those whose needs cannot be met by the market due to financial constraints. This includes a variety of tenure types, such as social rents, affordable rents, and shared ownership arrangements.
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.
