In Birmingham, property prices will rise by 19.2% over the next 5 years

Real estate prices in Birmingham will continue to rise in the next 5 years. This conclusion was reached by specialists at JLL, after having analyzed the dynamics of prices in the UK, where they found that housing prices in Birmingham will continue to grow. This will put it ahead of London in terms of the pace of development in the real estate market.

Housing prices in Birmingham are forecast to increase by 19.2% between 2023 and 2027, significantly higher than the national average.

In 2023, residential property prices are expected to fall across most of the UK, but in Birmingham, they will rise. The increase will be 1% in 2023, 2% in 2024, 4% in 2025, 4.5% in 2026 and 6.5% in 2027.

Published on 18.08.2023

Now, Birmingham is actively developing and has already claimed the status of the second city in the UK after London. In 2022, it hosted the Commonwealth Games, and in the near future, will begin laying the high-speed railroad, HS2, which will create a large number of jobs, an influx of professionals and increase demand for buying and renting real estate.

Analysts predict that rental prices in Birmingham will increase by 3.6% over the next 5 years. Property owners in this case can expect an increase in rental income.

Birmingham has previously been named the best city after London for vacancies in the financial sector. Given the development plans of the local authorities, it can be expected that Birmingham will soon be on a par with the UK capital in the residential real estate sector.