Buyers’ market in The Midlands
20 Dec 2019
While Brexit is finally set to ‘get done’, the knock on effects have in fact had positive impact on the Midlands’ commercial scene and interest in searching for property online starts not only in the home but also in business.
Retailers have been stockpiling goods during the wait, leading to the construction of huge ‘shed’ warehouses, with the creation of new jobs in areas offering development land. These locations are therefore becoming more attractive places to live.
And with the value of the pound having fallen against other currencies, more overseas buyers are likely to look to the UK, extending demand and keeping house prices relatively high.
There are strong returns to be made from both the buy-to-let and capital appreciation markets. The UK continues to offer a huge rental pool and also sound property growth. According to Property Investments UK top locations to buy property include:
This Midlands former shoe manufacturing town offers good job prospects from a heavy investment in new industrial and warehouse units.
The Midlands is becoming a major hub for big distribution networks, as the retail shift from high street to online continues. Northampton has a central location with lots of development space, such as the 1.6 million square foot Panattoni Park scheme, creating many job opportunities.
Pushing further south, this popular new town still has plenty of land ripe for development. Amazon opened a new warehouse in 2018, which is attracting similar big names and further job opportunities. Like Northampton, homes in Milton Keynes are in demand and tend to sell quickly. The small town centre is dominated by a shopping mall and the town is also going ahead with a new impressive retail and leisure development.
With house prices strong in many areas of the UK and demand for housing not fully met by new developments, it is no surprise that interest in the rental market is high as people struggle to buy. Property in The Midlands is still comparatively affordable, yet commands high rents, in an improving market with strong rental demand.
The West Midlands ‘capital’ has everything in its favour for property investment. Heart of England location means the city is among the best connected places in the UK. It forms the hub of the UK rail and motorway networks; Birmingham Airport is fast expanding and the arrival of HS2, set for 2026, will bring London just 49 minutes away.
The City of Birmingham itself has a population of 1.1 million, including 80,000 students – and 5.75 million people live in the wider region. According to the West Midlands Combined Authority, the West Midlands economy is worth around £80 billion.
Although the West Midlands is only a stone’s throw from the expensive south east, Birmingham property prices are more in line with the north, providing an up-and-coming location for property investors.
Buy-to-let investment remains strong in this thriving university city, where the large student population later translates into young working professionals who continue to rent while saving to get on the property ladder. The city offers one of the best performing rental yields in the UK.
Similarly this thriving East Midlands city offers a wide range of employment options, as well as a burgeoning student population. Translated into property this means an affordable city with high rental demand, close to major road networks and fast mainline rail services to London.
Time to sell?
If you’re thinking of moving, why not test the market? To ensure your property is properly priced, get a free and instant online property valuation with OnlineEstateAgents.com and seek advice from our expert team of independent property professionals.
For further information about homes for sale online contact Online Estate Agents Ltd; on 0330 1244 786.
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