Investment continues to be poured into Birmingham’s residential market, fuelled by private developers as well as smaller scale buy-to-let investors, and there appears to be no let up in the number of new rental properties coming onto the market in the West Midlands.

The latest figures from the Association of Residential Letting Agents show that nearly 60% of all properties coming to the rental market are buy-to-let investments, and unlike the South East of England, demand and supply is very much balanced in the West Midlands.

Debbie Hyland, residential lettings manager at Bruton Knowles appraises the market; “Investors in the West Midlands are still capitalising on the investment opportunities represented by residential accommodation. Indeed, last year Birmingham saw £100m worth of deals in the residential sector and indications are that 2005 will continue along the same lines. It is not difficult to see why residential investment remains strong. It is fuelled by strong demand, there is a continuing attraction for city living, coupled with the fact that young people are choosing to rent for longer periods of time before buying.”
Recent research from the Royal Institute of Chartered Surveyors (RICS) shows that demand for rented property continues to slowly rise. Rents too are increasing at the same pace and property experts, particularly in the West Midlands, remain optimistic about the future outlook for the rental market.

Debbie continues; “There are a number of new schemes in Birmingham and across the region which will appeal to the new investor. One such development is Crosby Homes’ new scheme in Southside. With the second phase nearly ready for completion, prices start from £146,500 for a one bedroom apartment. As letting agents for the scheme, we are experiencing at first hand just how attractive this development is for tenants.”

With the retail heaven of Selfridges and the Bullring within walking distance, and with metropolitan nightlife on offer at the Hippodrome and the Arcadian Centre, it is easy to see why these schemes are proving so popular. Travel connections are also very convenient with New Street station just minutes away.

Other schemes in quieter suburban areas such as Edgbaston and Erdington are also highly appealing. The George Wimpey development, ‘The Mall’ in Erdington, for example, offers beautifully designed apartments that are both conveniently close to the M6, and still able to offer suburban tranquillity complete with parking. With all of this on offer at a starting price of £135,995 for a two bedroom flat, these properties will be a popular option for young professionals.

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