Birmingham City is making great strides to meeting the Government new homes target. This is incredibly positive news, as, not only will these new homes help the West Midlands property market to remain buoyant, but also bring new jobs to the area. It proves that the West Midlands and Birmingham remain a seriously strong investment opportunity right now.
The Government has ambitious plans and targets for the amount of new homes to be built. This is in a bid to provide affordable accommodation for an ever-increasing population, and enable people to get onto the property ladder. Its’ recent continuation of the Help-to-Buy scheme proves that the government is still set on meeting this demand.
Birmingham city needs 80,000 new homes by 2031 to cope with its growing population. It is being helped significantly in this ambitious target by the plans of developer Berkeley Homes.
Berkeley Homes plans to build 3,000 homes a year in Birmingham over the next decade. The developer already has three sites secured where 800 homes will be built; they are also in advanced talks to have built another 1,000 by the end of 2019.
The three sites that Berkeley has already bought are:
The developer has made significant progress on these sites already. In a recent interview with Birmingham Live, Mr Pidgley revealed they are in talks to gain another three sites in the city.
This considerable investment of both money and faith in the West Midlands and Birmingham property market is being backed by Berkeley Homes founder and chairman, Tony Pidgley. Mr Pidgley has touted Birmingham as a better place to invest than London.
There is no doubt that with the redevelopment of sites like Longbridge and the regeneration of Smithfield and Curzon Street, Birmingham is in a strong position. With the added benefit of transportation infrastructure links such as HS2, it seems set to defy pessimistic views on the property industry markets as a whole.