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  • Property-a-holics

    Investing in Birmingham - now the most "investable" city in the U.K!

    Over-saturation warning?!

    Home building leads the way in Birmingham as a new survey reveals how good the city’s property prospects are.

    Deloitte’s 2019 Crane Survey says that the number of residential units currently being built in the second city is 5,065, the highest number ever recorded in the survey’s 17 years. It also represents a big improvement on 2018, when just over 4,000 were under way, while a year earlier saw under 500 in the works.

    Full/source article

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    I think we have a way to go before there's over-saturation in Birmingham overall. It's the UK's second biggest city and is still catching up from years of underdevelopment. HSBC, HMRC, Deutsche Bank all have major HQ buildings here (the first two are newly built) and HS2 and the Commonwealth Games will boost things further.

    As a Brummie broker of more than a few years' experience, I see no let up in demand for low-cost housing.

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    I don't think there is saturation yet, but what is a serious problem is that young professionals are constantly chasing the newest, shiniest, most up-market developments. A number of developments that look a little jaded or don't have a USP are really struggling so the quality of tenant is falling. There are a handful of the older developments that can now hold their own and some (particularly office conversions) that are really dire.

    Its not a market we are interested in, we are far happier concentrating on villages & suburban areas upto the edge of the city & commutable into Brum with good public transport links, no high service charges and consistent capital growth. 

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    Phil Stewardson.

    Stewardson Properties.

    Stewardson Developments Ltd.

    Burson Land Ltd. & Jennings & Gilchreaste Ltd.

    http://www.stewardson.co.uk

    Follow me on twitter - @philstewardson