Birmingham & the West Midlands Quarterly Insight Spring 2023
Our inaugural Quarterly Insight explores trends and performance across Birmingham & West Midlands, as well as across all our operating regions within Lomond including Scotland, Yorkshire, Manchester & the North West, and the South Coast. Expert commentary accompanies all the data research.
Our branches cover Birmingham to Cannock, right down to picturesque villages on the Cotswolds border.
Birmingham is a hub for economic growth and provides a vast amount of jobs with many of these people wanting to settle down in the surrounding areas just outside the city. The prices of homes across the West Midlands have also remained consistent compared to the rest of the nation making now a great time a move.
In our sales activity, we have seen an increase in the supply due to the steady housing prices with 24 new instructions per branch which is a dramatic increase from this time last year. As well as our demand remaining steady with 95 applicants per branch.
It’s undeniable that Birmingham is the place to be buying your buy-to-let properties with the attraction of £380 million of build-to-rent investment, which is the highest of all cities outside of London. The surrounding areas of Birmingham such as Sandwell, Sutton Coldfield, and Lichfield provide excellent places to invest as 49% of those working in Birmingham live just outside the centre, to maintain a healthy work-life balance while still being well connected.
We have seen a drastic increase in the rental demand over the last year as we have 356.2 applicants per branch and 14.5 applicants per new instruction. So you'll never be without a tenant in this market.
To find out how we can help you with your sales or lettings needs, contact your local branch.