Birmingham is one of the largest cities in the UK and offers a variety of property types to its residents. If you’re looking for an urban setting with all of the amenities that come with living in a city, then Birmingham is a great option. Here are some of the different types of property you will find in Birmingham.
If you’re looking for suburban living, there are plenty of neighbourhoods to choose from outside of the city centre. If you want to be close to nature, there are also lots of opportunities to live near green spaces and parks. Whichever type of property you’re interested in, Birmingham has something to offer everyone. So, let’s take a closer look at what this city has to offer!
How people occupy Birmingham property
According to a recent study, the average occupancy rate in Birmingham city-centre is 1.8. This means that people are typically choosing to either rent as a couple or share, whether that’s with a friend, relative or another renter. The study also found that the average rental price in the city-centre is £780 per month, which is significantly higher than the national average of £650 per month.
However, when compared to other major cities such as London and Manchester, the cost of renting in Birmingham is relatively affordable. With an increasing number of people moving to the city-centre for work and leisure, it is likely that the demand for rented accommodation will continue to rise. As a result, landlords and Developers should consider this when making investment decisions in the Birmingham property market.
1-bedroom versus 2-bedroom properties
In the past, 1-bedroom apartments were the most popular type of property for those living in Birmingham city-centre. However, this is changing, as more and more people are choosing to live in 2-bedroom properties. There are a number of reasons for this.
First, having two bedrooms is necessary for relatives, friends or professional sharers. Second, couples could theoretically live in a 1-bedroom apartment, but many are increasingly choosing 2-beds for the extra space. As a result, 2-bedroom properties are becoming more and more popular within Birmingham city-centre.
Two-bed properties are set to be the most popular type of accommodation for those living within Birmingham city-centre. This is because having two bedrooms is necessary for relatives, friends or professional sharers. Couples could theoretically live in a 1-bedroom apartment but many are increasingly choosing 2-beds for the extra space. 2-bed properties also offer more flexibility in terms of decoration and furnishings.
For example, you could have a larger living room or a second bathroom. If you are planning on hosting guests then a 2-bed property would be more suitable than a 1-bed. Ultimately, 2-bed properties offer more space and flexibility, making them the perfect option for city living.
Birmingham property investment
When it comes to property investment, Birmingham is an increasingly popular choice. One of the main reasons for this is the city’s affordability. The average property value in Birmingham is £205,055, which is significantly lower than in other popular markets such as London (£642,890). This makes Birmingham much more accessible for investment, and the city is also starting to see strong returns in terms of rental yield.
In addition, the increasing popularity of Birmingham as a destination for both business and leisure travel are helping to drive up demand for rental property. As a result, Birmingham is an attractive option for investors looking for a good return on their investment.