Birmingham Prime Residential Values To Hit £500 PSF By 2020 – Latest Knight Frank Report
Knight Frank’s latest ‘Birmingham Report’, released this week, has highlighted the encouraging level of current and projected growth within the residential market in the UK’s second city.
By 2020, the global renowned real estate consultants predict that high-quality city centre residential schemes will reach £500 psf. 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, 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, Birmingham’s 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.
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