Published:
03 May 2007
Birmingham's leafy suburbs offer some of the best opportunities for UK Property Investment in the country, an estate agent has revealed.
According to Robert Powell and Co estate agents, the market is very "strong" within a mile of the city centre, with highly sought-after areas like Edgbaston experiencing soaring House prices.
Commenting on what the area had to offer, sales negotiator Chris Williams said: "Everyone who can afford to aspires to live in Edgbaston because it's very leafy, the gardens are big, it's surrounded by private schools.
She also claimed that suburban areas represented a better investment than the heart of the city, which has become "saturated" with "grossly overpriced" apartments.
"There's [been] a lack of forethought on the developers' part," she said.
"Every bit of land in the city centre has got a crane over it; flats are springing up like mushrooms.
"They're grossly overpriced for the size, some are the size of shoeboxes. And there are only so many trendy young things with high incomes in the city."
Experts believe the property market in the city centre is currently experiencing a run of repossession problems and is set to "take a dive" in the future.
Source: Property Investment News