Average residential values in Birmingham have grown by 31% in five years, causing the traditional city centre boundaries to expand, according to Savills.
The firm’s Birmingham: Delivering Transformation report says there are 21,200 residential units in planning or under construction in the city centre, of which 1,800 are build-to-rent.
While Savills says house price growth will be subdued in Birmingham for the rest of this year, it says that the five-year compound growth of 14.8% will be in line with the UK average of 14.2%, and will outperform London and the South East (7.1% and 11.5% respectively).
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