Mature investors are still able to find value in the Birmingham residential property market if they know where to look, according to Marcel Wood-house, partner in agents York Laurent.

And the Jewellery Quarter in Hockley is still leading the way as evidenced by a £1 million plus major investment made by a consortium of Birmingham and overseas investors into Boxworks, the mixed use development of 20 apartments and four retail units.

They have purchased eight apartments off-plan in what Mr Woodhouse describes as an "excellent scheme in an area that is still offering value for money".

He said: "This is not a large scheme by city centre standards, but it offers a very attractive proposition to the mature investor, especially individuals looking to build a specific type of portfolio."

The consortium has considerable knowledge and experience of the Birmingham rental market and adding the Boxworks apartments to their portfolio reflects continued confidence that good rental yields are achievable in the city when the right development opportunity presents itself.

Mr Woodhouse said: "Digbeth has promise for the future, but we believe that the Jewellery Quarter is still the place to concentrate on for strong letting potential and good value for rental.

"Rents in Birmingham appear to have reached a level of stability; the demand for rental properties is still very strong and can provide good value for investors if you buy in the right areas."

He added that the Jewellery Quarter was developing a real sense of community and purpose.

"Traditionally this has been the home of hundreds of one-man bands and small businesses, but as regeneration takes place we appear to be seeing a good balance being achieved between the demands for residential and leisure alongside existing businesses.

"You only have to look at the number of new restaurants that have opened in or on the edge of the Quarter in the past eighteen months such as on Summer Row, Henry Wong, The Rectory, MPz and Jewell, to see that as the residential community expands so retail and leisure business interests are responding to the growing demand."

He said that owneroccupiers and investors were attracted to a number of schemes in the pipeline for Hockley.

"Property investment seems to go in waves but the mature investor who is prepared to stay the course and take a long term view has done very well in Birmingham in the past 15 years," said Mr Woodhouse.