Buyers dig Digbeth as new homes attract the creative community
- West Midlands creative industries growing at more than twice the pace of those in London (Creative Industries Federation)
- Under 25s account for 40% of population, making Birmingham one of youngest cities in Europe (Visit Birmingham)
- New Moseley Gardens development perfect for Digbeth’s millennials (Surrenden Invest)
When it comes to the perfect recipe for property buyers, Birmingham’s Digbeth has all the right ingredients. The area is a trendy, thriving hub of digital and tech prowess, with a community of millennials looking to rent stylish homes at the heart of the action.
Digbeth’s digital credentials were showcased earlier this month during Digital Digbeth Day, part of the BBC Digital Cities Week. Events focused on game-changing developments in the digital tech sector, from 3D scanning to virtual reality, with Digbeth’s bright young residents showcasing their credentials to maximum effect.
“The sense of creativity and innovation in Digbeth is enormous. The area is brimming with talent and not just in the tech sector. Digbeth’s creative industry credentials are seriously strong and have helped it to become one of the trendiest areas of the UK in recent years.”
Jonathan Stephens, Managing Director, Surrenden Invest
According to the Creative Industries Federation, the UK’s creative industries are worth £87 billion. That’s more than the country’s car or aerospace industry. The West Midlands has put much into developing its creative sector – creative industry jobs there grew by 38.7% between 2011 and 2015 (more than double the growth rate of London, which stood at 15.6%).
At the same time, big things are expected of Birmingham’s new Metro Mayor, Andy Street, whose strategy for growing the city’s economy looks set to have a positive impact on housing, transport and skills, as well as other areas of urban life.
Then of course there’s the High Speed 2 (HS2) rail network, which Transport for West Midlands sees as a catalyst for enhanced prosperity and growth for regional locations like Digbeth.
The combination of all of this has created a magnet-like effect in Digbeth, with highly skilled, highly ambitious millennials flocking to the area to work and live. Nearly 40% of Birmingham’s population is now under the age of 25, making it one of the youngest cities in Europe, according to Visit Birmingham.
“The influx of millennials has done much to re-shape Digbeth’s property market, at a time when Birmingham property prices and residential land values are already showing solid growth. As a result, the city has become a hotbed for property investors seeking strong yields and excellent capital growth potential.”
Jonathan Stephens, Managing Director, Surrenden Invest
Developments like Moseley Gardens are pitched perfectly for style-conscious millennials looking for a city centre location in Birmingham’s hottest regional rental market. Specifically developed for the shared rental market, the contemporary apartments offer the ideal blend of location and luxurious living, all just ten minutes’ walk from New Street Station.
“Demand for residential investment properties of this stature in Birmingham is so strong that many are purchased within mere hours of launching. Birmingham – and the Digbeth area in particular – is one of the most dynamic property markets in the UK right now.”
Jonathan Stephens, Managing Director, Surrenden Invest
Apartments are available from £138,000, for further details, visit www.surrendeninvest.com, email info@surrendeninvest.com or call 0203 3726 499.