Property prices in Birmingham are rising faster than London
Following on from the piece in the Sun last week, this is further coverage highlighting how house prices in Birmingham are now rising more quickly than the capital, where growth has slowed to the weakest pace in nearly four years.
According to property analysts Hometrack, year-on-year house price growth in Birmingham was running at 7.4% in January, compared to 6.4% in London.
Revealed: The true extent of the Birmingham housing crisis
Birmingham’s population is growing FIVE TIMES faster than homes are being built, new analysis reveals.
According to the latest official figures, just 780 homes were built in the city in 2016, bringing the total number of dwellings (houses and flats) to around 430,000.
Therefore, the lack of house-building in the city combined with a fast growing population, means the current housing crisis could get even over the next few years.
Residential property comes out on top for investors
Results from the MSCI / IPD UK property index shows how residential property investment has performed well over the last year, with the sector out performing retail, industrial, leisure and office property.
While the index is intended for large scale institutional investors – pension funds and the like – the themes emerging from these latest results are definitely interesting for all property investors.
See Birmingham Developments available as SevenCapital.