House sales in Birmingham bucked the national trend last year - and the city's success story is set to continue, according to experts at residential agents Knight Frank.
They said the sell-out success of Rotunda on its launch day, accompanied by the highly anticipated launch of Masshouse and the last apartments snapped up at the Centenary Plaza scheme, helped to secure record sales levels.
David Fenton, head of residential for Knight Frank in the Midlands, said: "The buying power of those looking to live in Birmingham has been fully cemented this year.
"Never before has a sale like Rotunda been achieved in Birmingham and for it to be followed up with over 100 sales at Masshouse is a fantastic achievement in itself.
"But to come at a time when the national media is telling pessimistic tales of a slowing market is truly remarkable. Taking the last four months of the year as an example - our sales figures have climbed by almost 80 per cent and this is undoubtedly a firm testament to the stability of the Birmingham new homes market."
He added: "Despite this, Knight Frank are in agreement that nationally there has been a change in the nature of the property market over the last 12 months with purchasers becoming more price sensitive. But the Knight Frank sales figures demonstrate that if the product and price is right, the buying market is still very much in place."
Mark Evans, partner at Knight Frank, said: "Although it has been alive for much longer, the city living trend really took off in Birmingham five years ago. Over the course of these last five years schemes such as King Edwards Wharf, the Royal Arch Apartments, Centenary Plaza, Orion, Holliday Wharf and Rotunda have all, year-on-year, consistently raised the standard of Birmingham's luxury apartment offering."
Knight Frank believes the trend will continue this year. The Cube - the final phase of The Mailbox development - and the adjacent Scholars Gate, already have long waiting lists.
Knight Frank said more developers were also choosing to make their mark on Birmingham's changing cityscape.
They include George Wimpey City, which is soon to launch its first Birmingham scheme called Latitude, situated behind the Arcadian.
Niche developer RO St Bernard is also launching its canalside Jewellery Box scheme on Newhall Street.
Mr Evans said: "Birmingham's residential offering is now at an incredibly high level. Indeed, I don't believe Birmingham has ever been in this position before, with such an array of high quality homes already existing in the city and more of an even greater standard coming forward."
