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Birmingham sees resurgence in city living as rental sector buoyant again

“We have a list of people waiting for apartments in the city centre and it is not uncommon to have three or four potential tenants keen to close a deal.”

Birmingham city centre at night

Birmingham is seeing a resurgence in city living as the rental sector begins to recover ground lost since the start of the financial downturn.

City centre apartments – desperately hard to let during the recession – are now buoyant again, according to an expert.

Louise Kean, associate partner residential lettings at Birmingham-based property group CPBigwood, said it wasn’t completely clear what was influencing the market for the better, but it was probably due in part to a return to growth in the national economy.

She said: “From when we start to market a property the interest builds.

“We have a list of people waiting for apartments in the city centre and it is not uncommon to have three or four potential tenants keen to close a deal.”

Equally, large family homes are in demand. Three and four bedroom properties are also proving popular – the firm has recently concluded deals on large homes in Moseley and Sutton Coldfield.

Ms Kean said: “The tendency to go for bigger families – witness the pressure on primary school places – may have something to do with it as people try to get their children into good schools.”

Another survey from estate agent Savills has revealed that the private rental sector in Birmingham has grown by 77 per cent over the last decade and experts predict the market will grow even further because of high deposits needed to obtain a mortgage.

 
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