Digbeth has been named the top area in Birmingham for residential property investment, new data from Seven Capital has revealed.
Earlier this month, it was announced that construction of HS2, a high-speed rail network linking London with Birmingham, Manchester and Leeds, would go ahead.
This development is expected to make Birmingham even more popular as a place to live and invest.
Data from leading Birmingham-based developer Seven Capital has revealed the city’s top areas for real estate investment.
Digbeth ranks number 1 on the list. It is believed to have quite high growth potential. The area has grown by 38.04% over the past 10 years and the average property price now stands at £189,400.
Andy Foote, a director at Seven Capital, said the region was ranked first as a result of its “prospects are greater than current statistics”.
Next on the list is City-Core, which is also considered to have high growth potential. The growth rate of this sector over the past 10 years was 37.77%. Meanwhile, the average property price is currently £200,300.
Jewelery Quarter also made the list as having moderate growth potential. The growth rate over the past 10 years has been 39.26% and the current average property price is £212,300.
Meanwhile, Harbourne, Edgbaston, Sellyoak and Erdington are also mentioned as great places to invest in property in Birmingham.
“Birmingham’s best areas are a mix of up-and-coming areas, established areas and specific area types,” Seven Capital director Andy Foote said in a statement.
“Digbeth ranks at the top of the 2020 list because it has more promise than its current statistics. More established central ‘hotspots’ such as the Jewelery Quarter, Edgbaston and Harbourne are Although it has benefited from rising average house prices and modest growth over the past decade, Digbeth has significant scope for future growth and regeneration, and that is exactly what it is. There are plans for this area,” Andy Foote continued.
“Coupled with the low entry point for buyers and investors, the outlook for future returns looks very bright for those who buy now, before the region reaches its projected potential.”
Andy Foote added: “Digbeth is within walking distance of Curzon Street HS2 station, the existing Moore Street and New Street stations, the city’s main shopping areas and of course the heart of the city’s emerging creative quarter. It’s within range. It has been named ‘Britain’s best place to live’ by The Times, with more than £2 billion worth of development projects planned over the next few years, including the Birmingham Smithfield masterplan and the long-awaited Connaught Square development. We must also remember that ”
“Overall, Birmingham has started to shine on the world stage over the past decade, but recent and future developments mean Birmingham’s best is still yet to come. For buyers, there has never been a better time to invest.”
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