Birmingham Rental Market Update – November 2024

Birmingham Rental Market Update – November 2024

As of November 2024, Birmingham’s rental market is experiencing significant activity, particularly in areas such as Yardley, Sheldon, and Stechford. These neighborhoods are increasingly sought after by professionals relocating to work at major local employers, including Heartlands Hospital, Birmingham Airport, and the HS2 project.

Overall Average: The average rent in Birmingham is approximately £990 per month, reflecting an 11.4% increase since July 2023.

By Property Type:

• Studio Apartments: Average rent is around £1,004 per month.
• One-Bedroom Apartments: Approximately £1,154 per month.
• Two-Bedroom Apartments: Around £1,263 per month.

• Rental Growth and Demand:
  • Projected Increase: Economic forecasts suggest that Birmingham rental prices could rise by 22.2% in the coming years, indicating sustained demand.
  • Tenant Demand: There is a notable influx of professionals relocating to Birmingham for employment opportunities at institutions such as Heartlands Hospital, Birmingham Airport, and the HS2 project.
• Rental Hotspots: Yardley, Sheldon, and Stechford: These areas are experiencing heightened demand due to their proximity to major employment hubs and excellent transport links.

At Partridge Homes, a multi-award-winning, family-run estate and letting agency, we have a substantial list of vetted tenants eagerly awaiting suitable properties. Our expertise in the Birmingham rental market, particularly in high-demand areas like Yardley, Sheldon, and Stechford, positions us uniquely to assist landlords in maximising their rental potential.

Why Partner with Partridge Homes?

• Extensive Experience: With over 30 years in the estate and letting agency sector, we possess in-depth knowledge of the local market dynamics.
• Comprehensive Services: We offer a full spectrum of services, including property marketing, tenant screening, and property management, ensuring a seamless experience for landlords.
• Professional Network: Our established relationships with major employers enable us to connect landlords with reliable tenants, including professionals from Heartlands Hospital, Birmingham Airport, and HS2.

Next Steps:

If you have a property to let in Birmingham, particularly in the high-demand areas of Yardley, Sheldon, or Stechford, we invite you to contact us. Our team is ready to provide a free property valuation and discuss how we can assist you in securing quality tenants promptly.

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