Is Birmingham a Good Place to Invest in Property?
Estimated reading time 3 minutes
From the canals to the curries, and the Bullring to the bustling network of shops, Birmingham has plenty to shout about — it’s even home to 571 parks, so there really is something for everyone. And with all this going for it, it has still been a surprisingly affordable place to live.
In this blog we will take a look at the Birmingham property market and explore the best places in the city to invest, finding out why both private investors and cash house buyers like SellHouseFast.co.uk are buying into Birmingham’s housing market.
Property prices in Birmingham
The average property price in Birmingham is £271,791, which is similar to the previous year and 5% higher than the 2021 post-COVID peak of £258,931. Property prices are also expected to increase in the long term moving forward. The majority of sales in Birmingham were semi-detached homes which sold for an average of £283,211.
Where are the best places to invest in Birmingham?
Selly Oak
If you’re an investor interested in taking advantage of Birmingham’s student rental market, then Selly Oak is the area to look at. With its proximity to the University of Birmingham, it is known as the ‘student village’ where students flock after spending their first year in halls. Terraced properties dominated the sales market in Selly Oak, with an average price of £291,030. Investors seeking student rental opportunities should not overlook this vibrant area.
Digbeth
Dubbed ‘the coolest neighbourhood in Britain,’ Digbeth is Birmingham’s creative hub, with a host of independent shops, bars, restaurants and leisure venues. Because of this Digbeth attracts a young and vibrant crowd, revitalising the former industrial heartland. It has immense growth potential and is an ideal location being close to shipping areas, the upcoming Curzon Street Station (HS2) and the emerging Creative Quarter. All of these aspects add to its attraction for both renters and investors. The average property price in Digbeth reached £177,154 over the last year, making it an area worth considering.
Birmingham City Centre
Birmingham city centre is a well-known choice for investors, with a wide range of property options. With ongoing projects to develop Birmingham such as the Paradise Development, HS2 and the Big City Plan, investing in the city centre can be lucrative. Postcodes in the heart of the city, especially for one and two-bedroom flats, present landlords with attractive returns and strong rental yields. In the past year, properties in Birmingham city centre had an average price of £256,730, making it an enticing prospect for investors.
Aston & Nechells
Located in the north of the city centre, Aston (B6) and Nechells (B7) offer affordable options, particularly for flat buyers. Aston, home to Aston University, attracts a sizable student population, providing landlords with decent yields while maintaining affordability. The average property prices in Aston are around £147,405. Nechells presents even more affordable options, with average property prices standing at approximately £128,075.
How can SellHouseFast.co.uk help?
Whether you prefer the bustling city centre, the student town of Selly Oak, the promising growth of Digbeth, or the affordability of Aston and Nechells, Birmingham offers a variety of avenues for successful property investments. Seize the chance to secure your financial future in these thriving locations. SellHouseFast.co.uk can help you free up cash for your home no matter its condition. Give us a call today to get your free cash offer.