|
Birmingham suburbs offer opportunities to homebuyers
26 March 2008 11:30
Birmingham's arrival as Britain's 'second city' has boosted demand for property there, according to one estate agent, with its suburbs offering especially attractive opportunities.
Nationwide's figures indicate that Birmingham's house prices haven climbed by 189 per cent over the past ten years to an average of £179,726, while prices on the outskirts of the city have increased by 163 per cent during this time to an average of £176,107.
A spokesperson for Robert Powell & Co explained that Birmingham has been transformed over the past 20 years and has now become quite a trendy place to live, with major cultural developments as well as the renovation of the area around its canal basin.
Yet she said that Birmingham's centre has been hit by the downward turn in the national housing market and that activity has declined to a point where some properties are selling at a 45 per cent discount, with the situation worsened by an over-saturation of flats.
By contrast, the spokesperson noted that some of its suburbs are exceptionally popular, in particular Edgbaston, which is green but expensive, Harborne, with Victorian terraced houses ideal for first-time buyers and Mosely, two and a half miles from the city's centre.
|
