Rays of sunlight

For vendors, and potential vendors, the sales market is again moving people. Pricing & condition as ever continues to be the key ingredient. For those selling the monitoring & reporting of reactions to individual viewings is essential so our clients so properties do not become stale and stay visible to those being serious.

Our results for the first quarter and April show a marked improvement overall on the tail end of 2023 with increasing numbers of applicants now viewing through us plus making offers. We boosted our sales side with a new very experienced sales manager Stephen Barratt joining. His understanding of this market, having witnessed similar conditions before, is undoubtedly helping vendors & buyers alike.

The City Centre residential lettings market continues to be busy with Birmingham being very able at attracting a large professional & creative pool of talent from across the globe. To report just one applicant who recently visited our offices. A Frenchman relocating from Melbourne coming to join a team working on HS2 and wanting to now live in the Jewellery Quarter for the next two to three years. The latter encouragingly recorded this month in the Daily Telegraph as one of the coolest residential locations to live, in the UK. Rental prices are currently stable having risen sharply through the last twelve months. The increasing supply of apartments coming largely from institutional landlords with their new blocks undoubtedly absorbing some of the overall shortage of supply.

It is worth noting that one third of the residential sales market in the City Centre is still being impacted by the cladding issues that followed seven years ago with the 2017 Grenfell Tower fire .The repercussions for anyone interested in buying being the withdrawal of mortgage finance. This sector continues to steadily loosen but the whole market is still in this shadow as some very popular blocks continue to be unavailable to those purchasers requiring funding.

Another section of the market we are now fully addressing is that of the investor looking to buy or indeed sell with tenants in place . Our new website pages clearly now show tenanted stock for sale & the likely yields of income the apartments can be bought & sold with. This is a sector growing & growing as relatively stable income came now be secured by anyone looking for medium term income & underlying capital growth.

Please do continue to contact our office for focussed professional advice on City Centre properties