As an investor, demand levels are everything. After all, there’s no point in buying the perfect property if it’s located in an area that nobody wants to live in. The ‘second city’ has enjoyed a significant boom in general, and that’s set to increase even further with the improved train links to London. However, it’s the Jewellery Quarter that is thriving more than most.
The area has enjoyed a strong commercial appeal for generations and is home to over 500 jewellery businesses alone. But it has also seen a sharp rise in residential popularity over the past decade. This is partly due to the fact many buildings have been adapted to serve the dual purposes work and living. The number of residents has more than doubled in recent years, underlining the growing appeal. Meanwhile, forecasts suggest that the population could grow by up to 200% once more between now and 2020. So, if you have a property in this vicinity, you’re not going to struggle for interest.
Meanwhile, the fact that the local population looks set to grow year on year offers great versatility regarding approach. Whether you’re looking for a quick turnaround or a long-term investment, the options are plentiful.
It’s unique DNA has seen the area labelled as a national treasure. Moreover, studies have shown that the older generations have been impressed with the recent revamping. Meanwhile, millennial creatives are attracted to what is seen as Birmingham’s cultural and artistic hotbed. From an investor’s outlook, the resurrection of the Jewellery Quarter’s popularity opens many different doors. After all, the museums, cafes, and other attractions make it a great place to live. In turn, that makes it a great place to invest too.
Whether you're aiming to flip properties or rent them out, the Jeweller's Quarter is one of the most attractive locations. And that trend only looks set to continue over the coming years.
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The growing population has been largely down to the creation of new homes. The local authorities have spent millions on redeveloping the area’s residential facilities. From townhouses to apartment blocks, those new buildings offer fantastic investment opportunities.
Better still, especially for a first-time investor, you can be sure that those new/adapted homes are in great condition. There’s nothing worse than underestimating the level of work needed to repair a property to a point where it can be sold or rented. The level of work completed renovating listed buildings and the area as a whole has been huge. As such, you can virtually banish those fears before you’ve even completed the building surveys. Moreover, if you’re taking the buy-to-let route, most tenants prefer new homes. After all, they’re free from asbestos while the chances of leaks and other issues are also greatly reduced.
Investing in an area where interest levels are high from one demographic is fine. But knowing that your investment properties can attract a wider audience instantly puts you in a greater position. The Jewellery Quarter’s blend of historical importance and modern urban appeal makes it a winner for the masses.
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