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Birmingham buy-to-let sector one of fastest growing in UK
August 3, 2015Article by Charlotte Ashton
Birmingham has been hailed as one of the UK’s top buy-to-let hotspots, new data from Barclays Mortgages has revealed. London is still the nation’s favourite location for those looking to profit from the private rented sector, but Birmingham, Bristol, Manchester and Nottingham have all become increasingly popular during the past year.
Regional hotspots such as Birmingham have allowed investors to take advantage of some excellent opportunities over the past year. Ray Withers, Chief Executive of leading property investment specialists Property Frontiers, explains,
“The UK’s second tier cities have created an excellent environment for buy-to-let investors over the past several months. Rising prices have created the opportunity for capital growth while the potential for healthy yields has led to the right developments selling out fast.”
No. 1 Hagley Road in Birmingham is just such an example. The development sold out in full earlier in 2015 and construction is now underway on the modern, luxurious studio, one and two bedroom apartments.
For Property Frontiers, it has been an affirmation of the company’s success in identifying the right opportunity at the right time. The award-winning property investment specialists are known for their thorough research and ability to identify areas on the brink of rising prices and increasing demand from young, professional tenants looking to rent high spec apartments in central locations.
A booming city
With a population of 1.1 million and an average age of just over 35, Birmingham certainly has plenty of professionals looking for rental accommodation. It is a busy, vibrant city packed with employment opportunities and home to some of the UK’s leading companies. From the Harvester restaurant chain to London Midland, a host of national businesses have made Birmingham their home and provided employment to the city’s brightest and best. The service industry, retail and tourism are Birmingham’s main employers and the city has a reputation as an interesting and exciting place to live.
Property in Birmingham has gone up in value by 8.27% in the past two years, according to figures from Zoopla and investors in the city’s buy-to-let accommodation are looking forward to the prospect of additional price rises over the years ahead.
“Birmingham is one of the UK’s real regional success stories,” confirms Property Frontiers’ Ray Withers, “and it is pleasing to be a part of this latest chapter in the city’s growth. With No. 1 Hagley Road already sold out and under construction, it will be exciting to see this stylish new accommodation added to the city’s property sector, ready to house professional tenants while providing solid returns for the development’s investors.”
For more information about buy-to-let opportunities in the UK’s leading cities, contact Property Frontiers or call +44 1865 202 700.