Government forcing landlords to house non-paying tenants for lengthy periods11:18 AM, 15th September 2020
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Birmingham, elected the UK’s ‘most investable city’ by PwC, is set to become the UK’s foremost property hotspot. The UK’s second city is expected to achieve 20-30% price growth by 2022, based on Hometrack’s 2018 analysis of regional economies and the trajectory of the housing market cycle.
Hometrack predict that London house prices will grow at less than half the rate of the national average for the next five years, whilst the UK’s key regional cities will lead the market, drastically narrowing the gap.
Manchester has made significant headway during London’s stagnant period, but having already gained huge house price increases and rental growth, it has now paved the way for other regional cities as its cycle reaches maturity.
Birmingham is following in Manchester’s footsteps, with rental income increasing 24% and property prices growing 8.9% in the last year alone. Properties are already highly sought, and take just 36.7 days to sell, yet the population is set to grow by a further 171,000 by 2039, making it a key investment hotspot for buy-to-let investors.
As the West Midlands city is currently early in the growth cycle, investors are able to benefit from lower entry points and greater ROI potential, especially considering the inevitable impact of HS2 and the 20-year Big City Plan, which is expected to create in excess of 50,000 new jobs, 5,000 new homes and £2.1 billion to the economy each year.
Arden Gate is an exciting new development in the heart of Birmingham City Centre, ideally located just a few minutes walk from the Grand Central-New Street Station.
Spacious, contemporary apartments start at £182,950, come with an assured 6% rental yield, and are available with just a 10% initial down payment. Each high specification unit comes fully equipped with modern porcelanosa kitchen designs and top-end appliances, with a number of units featuring private gardens or airy balconies overlooking the city skyline.
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