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.
As of April 2017, the average value of property in Birmingham stands at £181,946. The average price paid for property in Birmingham, again as of April 2017, stands at £178,280; and in the past 12 months, property prices in Birmingham have increased by 3.23%. The value of property in Birmingham has risen by 4.12% in the same time frame which means that even recent buyers in Birmingham could have experienced a return on their investment.
Moseley is a great example of a popular Birmingham area
With Birmingham being a major area, there are many different parts of the city to consider and a popular part of Birmingham is Moseley. In April 2017, the average value of property in Moseley stood at £272,391 while the average price paid for property in Moseley, again as of April 2017, stands at £237,232. Like Birmingham, there has been a rise in property prices of 3.23% in the past 12 months in Moseley. Moseley is found in the south east of the city and it has received a lot of interest in recent years thanks to its classification as the best place in the United Kingdom to enjoy city living. This was a decision made by the Sunday Times and commendation was made for the fact that the area offers a village style community while providing all of the amenities a person would hope for from city living.
Harborne continues to be one of the most prestigious areas
Harborne may not have the same style, and dare we say it gentrification as Moseley, but it has plenty of places where you can socialise; and it is an area that appeals to young professionals. The appearance of a Michelin starred restaurant is never going to be a bad factor for a local area and as of April 2017, the average value of property in Harborne stood at £326,348. The average price paid for property in Harbone, as of April 2017, stands at £299,576 and in the past 12 months, prices in the area have risen by 3.69%.
Edgbaston’s proximity to the city centre adds to it’s appeal
Edgbaston is another area of Birmingham that is highly regarded and with the University of Birmingham Campus in this part of the city and the Botanical Gardens, there is a lot to enjoy about life in this area. As of April 2017, the average value of property in Edgbaston stands at £260,314 while the average price paid for property, again as of April 2017, stands at £253,214,
While there are many different areas to enjoy and explore in Birmingham, on the whole, this is an area on the up. With the average property price rising by a figure along the lines of 3.23% in the past 12 months, Birmingham is on the up and you can see why so many people are keen to set up home in the city.
Unsure of what to do with your Birmingham property and want to talk through your situation? Book an appointment with one of our local area experts. Or call us on 0800 862 0870.