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Slowing Birmingham Property Market? Yes and No!

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The tightrope of being a Birmingham buy-to-let landlord is a balancing act many do well at. Talking to several Birmingham landlords, they are very conscious of their tenants’ capacity and ability to pay the rent and their own need to raise rents on their rental properties (as Government figure shows ‘real pay’ has dropped 1% in the last six months). Evidence does however suggest many landlords feel more assured than they were in the spring about pursuing higher rents on their Birmingham buy-to-let properties.

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Birmingham Property Values Rose by 6.1% in the Last Year

The most recent set of data from the Land Registry has stated that property values in Birmingham and the surrounding area were 6.12% higher than 12 months ago and 16.72% higher than January 2015.

Despite the uncertainty over Brexit as Birmingham (and most of the UK’s) property values continue their medium and long-term upward trajectory. As economics is about supply and demand, the story behind the Birmingham property market can also be seen from those two sides of the story.

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Four unmissable tips for First Time Buyers

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Many first-time homebuyers throughout the UK may feel like the prospect of purchasing their own property is a lifetime away. After all, research has shown a quarter of British people over the age of 50 still have grown-up children living at home. In addition, the property markets in some areas of the country appear to be heavily against buyers.

Needless to say, buying a home virtually anywhere in the country can be a costly and time-consuming process, but we’ve come up with some golden nuggets of advice to help aspiring homeowners get to where they want to be.

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Why are online estate agents only selling half of their listings?

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‘Top High Street agents significantly out-perform onliners’ says HomeOwners’ Alliance. The consumer group has consistently promoted online agencies in the past but has now published analysis stating that High Street Agents have a far higher success rate than online agents, selling 82.42% of homes listed with them compared to 51.98% among the online.

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A look at the Birmingham property market over the last 12 months

Birmingham-Property-Market-17-5-14

With Birmingham being the second largest city in the United Kingdom after London, and with a population of 1,101,360; this is a city that is one of the busiest and most vibrant in the whole country. If you take a look at the metropolitan area figures for Birmingham, you’ll find that there is a population of 3.8 million which sees Birmingham listed in the Top 10 for most populated metropolitan areas in Europe.

With so many people already living in the area, and so many other people looking to move to the area, it is understandable that many people across the world have an interest in the Birmingham property market and any changes that have occurred over the last 12 months.

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