The UK’s next largest city after London, by population (1.1 million), rising to 2.5 million when combined with nearby Wolverhampton, Birmingham is a major education hub with five universities and 75,000 students (its student numbers represent the size of an independent town in its own right). Birmingham has the youngest profile of any city in Europe with 37% of the population under 24 years of age and is the second most ethnically diverse population in Europe. The city attracts 33 million people a year for business and pleasure.
The Big City Plan is the most ambitious, far-reaching development project ever undertaken in the UK, combining both public sector and private sector investment. This Masterplan’s aim to create a world-class city centre, has a 20 year timeframe. Transformation work started in 2007, with over £1billion of public investment in the city centre and manifestations of this work can now be seen in its infrastructure projects.
Land Registry shows prices are rising, with steady annual growth of over 5%. Upward pressure on prices looks likely to continue as demand forecasts of 4,200 homes by 2021 surpass the forecasted supply of only 2,300 over the next three years. With HS2 coming to Birmingham in 2026 this will only serve to buoy the local economy and its property market further, with predictions of average annual price growth of over 6%. Even with this steady growth, the average cost of a home in Birmingham is still around 60% less than one in London.
Rental growth of 4% per annum is expected, but this is likely to be significantly more in the central parts of the city.
In the Digbeth area, B5, these homes will be within walking distance of Birmingham New Street Station - the £600 million Gateway scheme built in 2015. This investment has regenerated this part of the city centre creating thousands of jobs, with spin-off effects in other areas in close proximity, like Digbeth and Smithfield.
With High Speed Rail being brought directly into the heart of Birmingham, this will also be easily accessible from this location in Curzon Street.
Completion first part of 2020
1, 2 and 3 bed apartments are soon to be released starting from £159,995
Payment terms are £3,000 reservation, 30% deposit payable over 24 months with a 70% balance of payment.
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