– Birmingham has a population of 1,101,000.
– That’s an estimated 458,000 households.
– According to gov.uk, there was an estimated 5.62 repossessions for every 100,000 households In each quarter.
– This equates to a total of 103 repossessed houses in Birmingham during 2017.
As the second most populated city in the UK, Birmingham for years has had a wide variety of properties to invest in, however, unfortunately it is not quite that simple anymore. The population is ever growing, as many have been priced out of London and this is not necessarily reflecting on the property numbers.
Repossessed Houses in Birmingham
Birmingham live have reported that the city is only producing one new house for every eight new residents in the city, meaning the population is growing three times as fast as the property numbers. The rise in population compared to properties is fairly alarming for those who had their heart set on pursuing property in Birmingham, especially considering this is a theme that is consistent across all areas of the UK. For example Dudley saw numbers of properties rise faster than the increase of the population.
Due to the ever growing population in Birmingham it may become more difficult to source BMV property in this area as well as the rest of the West Midlands, therefore it is useful to utilise every source of properties available.
Repossessedhousesforsale.com will put you in contact with a trusted partner who will help source and purchase repossessed and BMV houses for sale in Birmingham.