Birmingham To See Highest House Price Growth
Birmingham homeowners are set to see the highest house price growth in the next five years
This week, The Telegraph reported that house price growth values in Birmingham will rise by 6% in 2022 and then rise an average of 4.9% every year until 2026.
According to JLL property consultants, the West Midlands city will rise at the fastest rate in the country.
Nick Whitten, of JLL, said Birmingham was “the next urban frontier” for buyers and landlords. To put it in perspective, a Birmingham home worth £500,000 today will cost £635,000 by the end of 2026.
There are multiple reasons why Birmingham is outperforming other areas of the city from HMRC’s relocation to the HS2 rail link. HMRC, in particular, is creating 6,300 high-earning jobs ahead of the Commonwealth Games in 2022. HS2 is set to create 7,000 Midlands jobs.
Big City Plan
Birmingham is seeing huge transformation and investment with the likes of Smithfield, The Commonwealth Games and Curzon Enterprise Zone.
The Big City Plan is 20 year City Centre Masterplan turning Birmingham into a world class city centre.
It covers every aspect of the built environment. This includes:
- Creating 1.5 million square metres of new floorspace
- Creating over 50,000 new jobs
- Contributing £2.1 billion to the economy each year
- Creating a well-connected, efficient and walkable City Centre
- Providing 65,000 square metres of new and improved public spaces
- Providing 28 kilometres of enhanced walking and cycling routes
- Providing over 5,000 new homes with new leisure and recreational facilities to attract more families
- Valuing the city centre’s heritage and cultural assets
- Integrating sustainable development and addressing the impact of climate change as part of the future transformation of the city centre
- Delivering five areas of transformation supporting the growth of the City Core.
Ian Ward, Leader for Birmingham City Council, says ‘We are a city with a wealth of knowledge, skills and creative potential in our communities to ensure once again, we will be at the forefront of finding and delivering solutions to the major social, environmental and economic challenges we face.’
As our home city, the regeneration and investment of the city is important to us. We focus on the regeneration of Birmingham areas such as Smethwick and Digbeth with developments such as Crocketts Lane and The Forge.
We look forward to keeping you updated with future plans.
Follow our journey on our socials below.