Is the buy-to-let market finally slowing down? Are potential landlords becoming more cautious with their choice of investment? Despite recent figures from the Council of Mortgage Lenders showing a significant fall in buy-to-let loans at the end of last year, Birmingham investors are still showing real confidence in the opportunities on offer at new development schemes in and around the city.

Debbie Hyland, residential lettings manager at Bruton Knowles (BK) comments: “Although there was a 16% decline in the number of applications for buy-to-let mortgages, across the UK, in the last six months of 2004, the confidence we are seeing from landlords in Birmingham and the West Midlands as a whole, suggests that investment opportunities presented by new developments continues to appeal. Rather than being discouraged from buying, we are aware that investors have just become sharper and more selective. They are approaching the market with more caution and many are focusing on the most high profile areas and developments which are well known for offering cosmopolitan city living. “

Recognising this, BK is working with key developers Crosby Homes at its new scheme, Southside, to provide a new service for tenants and investors alike. A dedicated lettings area at the development with a lettings hot desk, offers tenants the opportunity to put their name forward on a waiting list for apartments. At the same time investors will be able to gain key facts on rentable values, tenant / market demand and occupancy trends etc. The lettings ‘hot desk’ will be manned from 2.00pm to 4.30pm, from Monday to Friday.

Debbie continues: “In the week since BK opened this facility at Southside, we have been very busy. There has been a tremendous amount of interest from first time investors and also potential tenants who are looking for high quality and very well located apartments in a scheme that suits everyone’s lifestyle needs.”

Renting an apartment in this contemporary development needn’t break the bank, with monthly rents starting at £550 for a one-bedroom apartment. With retail bliss within walking distance at Selfridges and the Bullring, entertainment at the Hippodrome and a vibrant nightlife just around the corner at the bars and restaurants of the Arcadian centre, city living has never been so appealing. Travel connections are also very convenient with New Street Station minutes away.

And it’s not just the exhilarating city life which is attracting people, as Debbie points out: “We are witnessing a continued enthusiasm for properties in the city centre, but there is also a growing interest in the quieter suburban areas too. Away from the buzz, in Erdington, is a new George Wimpey development. Here we have apartments with beautifully designed furnishings and kitchens and are situated in a location that is conveniently close to the M6, yet offers the tranquillity of a suburb complete with parking. With all of this on offer from £525pcm for a two bedroom flat, these properties will be a popular option for young professional people looking for something of quality.

Despite some national indicators predicting a slowing buy to let market, in Birmingham there are still some excellent city centre and suburban schemes that still make investment plausible and profitable.

For further details on residential lettings in Birmingham, please contact the Bruton Knowles lettings team on 0845 200 2580.