Is Digbeth THE hottest new place to live in the UK?
THIS could be the reason why
Birmingham's famous Custard Factory has been sold and has brought positive signs of change for the area, according to a property expert.
The famous Custard Factory, located on the site of what was the Bird’s Custard factory, has been sold.
The independent shopping destination has been sold to a partnership of three young real estate developers.
The sale happened just as the transformation of the Custard Factory Courtyard was completed.
Jonathan Stephens, MD of Surrenden Invest - a property investment agency also active within Digbeth - has considered what the sale might mean for the area.
He said: “Between December 2016 and March 2017, the biggest surge in workforce jobs in the UK was in the West Midlands, at 65,000, whereas the largest decrease was in the East of England at 36,000 (ONS), more jobs will mean more of a demand for property in the area.
“With Birmingham named the top choice for people leaving London in 2016 (ONS) and affordability of living in the capital and house prices especially being the driving force for relocation, will Digbeth become the hottest new place to live?”
Jonathan explains there is good reason to believe this could be the case.
He said: “The area, so close to Birmingham city centre, New Street Station and The Bullring, received great attention - both from investors and the highly skilled, highly ambiguous millennials flocking to the area to work and live.
“Digbeth has changed markedly over the last 20 years with the original redevelopment of the Custard Factory really kick-starting this regeneration.
“With this new acquisition by a real estate focused organisation I can only imagine what exciting plans they have for the site - not least for future residential accommodation.”
The property hotspots for 2017, according to Zoopla, were revealed at the beginning of June, and the most in-demand place to live in the UK might not be what you expect.
It analysed the volume of email enquiries sent by house hunters to estate agents listing homes for sale on its website over the past year to make the findings.
Estate agents in the Scottish city received 145 per cent more enquiries from prospective buyers than the UK average.
The next most popular area on the list was Croydon in South London, with 104 per cent more demand for homes there.
Central London and Glasgow followed, with 77 per cent and 67 per cent more interest than the average British property listing.
- Between December 2016 and March 2017, the biggest surge in workforce jobs in the UK was in the West Midlands, at 65,000.