Birmingham offers incredible property investment opportunities with affordability, high potential capital growth, strong yields compared to other regional investment hotspots and consistent tenant demand. Known as the UK’s second capital, Birmingham attracts billions in investment into citywide retail, commercial and residential space a well a significant infrastructure projects. Birmingham is on a promising path to a prosperous future and is a key location to bolster any investors portfolio.
House prices have risen across the West Midlands by almost 10 per cent in 2022, according to analysis from Halifax.
Birmingham recorded the strongest house price inflation of areas in the West Midlands region in 2022. Over the past year, house prices in the city have grown by 13.8 per cent or £32,563 on average in cash terms.
It means average property values there have risen to £269,385, in the 12 months to November 2022.
West Midlands is in better health than other areas of the UK, bettered only by East Anglia. House prices in the last quarter have increased at a higher rate than the UK average (+27%) and even more when compared to London (+49%).
The latest Gov.uk figures show that the West Midlands reported 216 repossessions in Q1-Q3 2022 (Jan-Sept), accounting for 10% of all repossessed properties in the UK.
Birmingham reported 50 repossessions between January-September in 2022, which makes up 23% of all repossessed properties in the West Midlands.
Finding Repossessed houses in Birmingham is extremely easy. Subscribers can simply search for Birmingham, or a specific area in Birmingham, and our platform will provide all the relevant repossessed properties.
With 1 in 10 of all repossessions in the UK being recorded in the West Midlands, the region is certainly one to watch for 2023 when searching for repossessed houses in the UK. Birmingham is a key city within the region where there are some great below market value deals to be had throughout the year.
Gov.uk will be releasing their latest figures on repossessions in early February so keep an eye out for our latest view shortly after release.
Although property repossession numbers currently remain relatively low when compared to previous years, it is difficult to avoid the signs of another recession hitting the UK later on in 2023. The rise in living standard costs, higher interest rates and the highest inflation the UK has seen in 41 years cannot be ignored
Repossessedhousesforsale.com are keeping a close eye on the repossessed property market over the coming months to see if there will be a rise in supply as we start 2023. See our latest blog post for more information.
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