- Readers Rating
- No Rating Yet!
- Your Rating
The Digbeth area of Birmingham has been tipped as a good spot for buy to let investment in the immediate future.
Birmingham continues to enjoy unprecedented levels of investment and regeneration. With last week’s announcement that HS2 will go ahead set to provide a further boost to the city and wider region.
Birmingham based developer SevenCapital has carried out research to show Birmingham property investment hotspots, ranked according to growth potential, taking account of current and future demand, affordability and price growth, with Digbeth area coming out on top.
Andy Foote, director at SevenCapital explained: ‘Birmingham’s best areas are a mix of up-and-coming, well established and specific area types.
‘Digbeth tops our list for 2020 due to its future potential over current statistics. Whilst the more established central ‘hotspots’ such as the Jewellery Quarter, Edgbaston and Harborne benefit from higher average house prices and marginally higher growth over the past 10 years, there is significantly more space for future growth and regeneration in Digbeth, which is exactly what is planned for the area.
‘Couple that with its lower entry point for buyers and investors, prospects for returns in the future for those who buy now, ahead of the area reaching its anticipated potential look very positive.
‘Digbeth is within walking distance of HS2’s Curzon Street Station, the existing Moor Street and New Street stations, the main city shopping area and of course is the heart of the city’s emerging Creative Quarter. That’s not forgetting its already been dubbed the ‘coolest place to live in the UK’ by The Times and is subject to more than £2billion of planned development projects over the coming years, including the Birmingham Smithfield masterplan and long-awaited Connaught Square development.
‘Equally, the main city core area is likely to continue its surge in popularity as the trend for city centre, urban living continues to grow. Already having undergone an incredible transformation over the past 10 years, ongoing, significant development projects, including Paradise, Arena Central and the tram network, are making the city an even more attractive place to combine business, work and home life.
‘Global organisations such as HSBC and PwC have already recently rehomed key headquarter operations or increased their head counts within the city’s newest developments, bringing thousands of jobs. With HS2 and the 2022 Commonwealth Games amongst many other key projects still in the pipeline, as a knock-on effect, the city’s population is expected to hit 1.3million by 2039, vastly increasing the demand for available homes.’