Birmingham, England’s Real Estate Market Is Signaling a Boom
Birmingham’s real estate market is poised to take off, boosted by a fast-growing local economy and its relative affordability, according to a Knight Frank report released Monday. The residential prices in the West Midlands, of which Birmingham is a business hub, will rise 13% over the next five years, according to Knight Frank’s projection. In 2019, the brokerage transacted £289 million (US$379 million) in residential sales and land investment, the highest volume the firm handled in a single year in Birmingham, the report said. A growing population and rising economic opportunity are driving demand for residential properties in Birmingham. Coupled with this is Birmingham’s relative affordability, making it the most popular city for buyers priced out of London, Knight Frank said.
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