The Jewellery Quarter has quickly become one of the most in demand areas in the centre of Birmingham, not only because it has a strong business presence but because many properties have been adapted to fulfil the dual purpose of work and home.
As such, the residential population has almost doubled in recent years and is only expected to continue to grow. If you have a property within the Jewellery Quarter or its vicinity you’re not going to struggle for interest.
The Jewellery Quarter appeals to people of all ages. Studies have shown that the older generations have been impressed with the recent revamping and millennial creatives are attracted to what is seen as Birmingham’s cultural and artistic hotbed.
From an investors point of view, the popularity of the area opens many doors and with all the galleries, museums, restaurants and other attractions readily available for tourists and residents, it’s easy to see why the Jewellery Quarter is a great place to live and in turn, invest.
Birmingham is the second largest business hub in England, with many international businesses now opening offices within the city. This is bringing new people into the city and increasing the demand for housing, which makes now the perfect time to invest within The Jewellery Quarter.
The buy-to-let sector is currently booming in Birmingham; demand is rapidly growing and over the next decade, CBRE predicts more than 10,000 additional renting households will live in the city. Now is a key time to invest in The Jewellery Quarter as demand is only expected to increase.
The Jewellery Quarter is central to Birmingham and is just 15 minutes from Birmingham New Street station and as such receives many of the same benefits that the city centre receives. There are strong transport links to the north and south of England with direct lines to most of the UK’s major cities.
The cities considerable growth, coupled with the ambitious plans for future development has resulted in a growing demand for rental accommodation in the city in recent years. Understandably, this has led to increased numbers of investors looking to purchase investment property for sale in Birmingham city centre.
Birmingham has quickly become a cultural hub, with people of all walks of life coming together. This has lead to a variety of bars and restaurants opening so people can enjoy a great night out in town. For those who wish to shop ‘till they drop, the Bullring shopping centre has everything and more in addition to the many attractions the city has to offer.
Being considered the UK’s second city, Birmingham has a high demand for property and this demand doesn’t change when it comes to The Jewellery Quarter. Birmingham is forecast to need 4,000 homes per annum over the next 10 years. This gives investors plenty of opportunities to get involved in the city.
In the last 12 months, house prices in The Jewellery Quarter have risen on average by seven percent. That increase should be a green light for investors looking for an area with great profit potential, especially considering that Birmingham is one of the fastest growing cities in the UK.
In Birmingham, investments can yield different results depending on the location; however, you could expect to see yields up to 5% with average house prices above £250,000.
As the name suggests, jewellery is at the heart of the quarter with over 700 jewellery related businesses within it. Many people visit to get bespoke jewellery made for weddings and special occasions. Due to this particular unique shopping experience, investors should take this as a sign of affluence within the area.
The Jewellery Quarter’s close proximity to Birmingham city centre means it benefits from many of the same amities such as the Bullring and Grand Central shopping centre. There are also several museums and libraries including the Birmingham Library and Birmingham Museum.
As the name implies, the jewellery quarter is home to hundreds of jewellery related businesses. However in recent years, the area is becoming well known for its food and drink with new trendy bars and eateries opening all the time.
The Jewellery Quarter is a short 15 minute walk from Birmingham city centre, most importantly New Street Station, which is the main hub of transport in the city. With plans to bring the HS2 rail project to Birmingham, residents of the jewellery quarter will benefit from it directly.
In November 2019, plans were approved for a £135 million redevelopment project in the heart of the Jewellery Quarter. The project will comprise of 305 apartments, including lofts and duplexes and around 100,000 sq ft of commercial space, including affordable business and retail space, as well as new public areas, all while improving access to the city centre.
The growing population has been largely down to the creation of new homes. The local authorities have spent millions on redeveloping the area’s residential facilities. From townhouses to apartment blocks, those new buildings offer fantastic investment opportunities.
Better still, especially for a first-time investor, you can be sure that those new/adapted homes are in great condition. There’s nothing worse than underestimating the level of work needed to repair a property to a point where it can be sold or rented. The level of work completed renovating listed buildings and the area as a whole has been huge. As such, you can virtually banish those fears before you’ve even completed the building surveys. Moreover, if you’re taking the buy-to-let route, most tenants prefer new homes. After all, they’re free from asbestos while the chances of leaks and other issues are also greatly reduced.
Investing in an area where interest levels are high from one demographic is fine. But knowing that your investment properties can attract a wider audience instantly puts you in a greater position. The Jewellery Quarter’s blend of historical importance and modern urban appeal makes it a winner for the masses.
Published: 14 August 2018One BHM is our latest residential development perfectly situated in the sought after B1 area in Birmingham. One BHM will bring 165 one, two and three-bedroom apartments to the market, each designed with a bespoke and distinctive finish.