Birmingham City Centre Residential Values To Hit £500 PSF By 2020 – Latest Knight Frank Report
Knight Frank’s 2017 ‘Birmingham Report’ predicts that by 2020, high-quality Birmingham city centre residential values will reach £500 psf, highlighting the encouraging level of current and projected growth within the residential market in the UK’s second city. With some niche schemes already hitting £425 to £450 psf, Birmingham looks well on track to hit this.
This means that for those looking to invest in prime city centre property now, Birmingham city centre offers a very lucrative opportunity for capital growth over the next few years.
Furthermore, when it comes to returns from the rental market, the predictions are just as strong.
Birmingham is one of Europe’s youngest cities, with nearly 40% of the population below the age of 25, and with 80% of city centre residents currently being tenants, this is already a strong market for would-be landlords. However, it certainly hasn’t hit a peak. With the extensive investment and development activity currently happening all over the city, including Arena Central, the £700 million Paradise redevelopment and HS2 to name just three, Birmingham’s attraction as a place to live and work is set to surge, and as such its population is set to grow significantly in the coming years. According to the report, the number of people living in Birmingham is set to rise by 171,000, to 1.3 million by 2039, which in household terms translates to an increase of nearly 100,000 households.
Read why Birmingham city centre residential values are set to climb in Knight Frank’s ‘Birmingham Report’