Birmingham has long been known as a hub of cultural, economic and industrial activity in the UK. In recent years, it has also emerged as a popular destination for students seeking a quality education, and with this influx of young people has come an increase in demand for student accommodation.
For savvy property investors, the question on everyone’s mind is: “Is Birmingham a student buy-to-let hotspot?” We will take a closer look at the current state of the student housing market in Birmingham, exploring the city’s popularity among students, the demand for student accommodation and what this means for investors looking to enter the market. So if you are thinking of trying to sell a tenanted property and investing in student property, read on!
What does the Birmingham rental market look like?
Birmingham is a city that, like the rest of the UK, needs more affordable rented properties. Currently, there are 1,682 properties for rent across the city, with an average monthly rent of £1,422.
The majority of the properties for rent are in the £500 to £2,000 range, with the highest number of properties being two-bedroom homes, averaging £1,372pm. Most properties for rent in Birmingham are flats, averaging £1,593 pm, followed by houses with an average monthly rent of £1,469 pm. Room rentals have the lowest average rent of £604 pm.
Rents can differ depending on the area, with some areas in more demand than others.
- In the central B1 postcode, for example, there are 182 properties available for rent. The average rental price for properties in B1 is £1,607 per month.
- The B5 area of Birmingham has 109 properties available for rent. The average rent for properties in B5 is £1,766 per calendar month.
How many universities does Birmingham have?
Birmingham is home to no less than five renowned universities. The University of Birmingham, the largest of them all, followed closely by Birmingham City University. The city also boasts University College Birmingham, Aston University, and Newman University, collectively contributing to an impressive student population, the largest outside of London.
The city is renowned for its quality education, making it one of the UK’s leading study destinations. The University of Birmingham was named “University of the Year” by The Times Higher Education in 2014, and various university rankings have placed it among the top ten in the UK. Birmingham City University, while not as highly ranked, still attracts a significant number of students and is growing in popularity thanks to its innovative teaching methods and five Centres of Research Excellence.
How many students are there in Birmingham?
Birmingham is a thriving city for students. Aston University has a student population of 9,500, while Birmingham City University has 48,500 students. Newman University is home to 3,100 students, the University of Birmingham has 28,000 students, and University College Birmingham has 4,700 students. The diverse range of universities in Birmingham caters to students of all interests, offering quality education and numerous opportunities for personal and academic growth. With such a large student population, the city is a hub for student life, with a vibrant social scene and numerous events, activities, and organizations catering to the student community. Whether you’re a first-year student or a postgraduate, Birmingham offers a unique and dynamic environment for higher education, making it a sought-after destination for students from all over the world.
Does Birmingham have popular student areas?
Yes, Birmingham has several popular student areas. Some of the most popular areas for students include Selly Oak, Harborne, Edgbaston, Moseley, and Bearwood. These areas are known for their proximity to universities, vibrant nightlife, and a variety of shops, cafes, and restaurants. They offer a mix of both student accommodation and private housing, making them popular choices for students. Additionally, many of these areas are well-connected by public transportation, making it easy for students to get around the city.
Birmingham really is a thriving city for students, offering a variety of student-friendly areas and a rich cultural scene to explore.
What do students look for in accommodation?
When it comes to student accommodation, several factors are usually considered by students. One of the most important is location, as students understandably prefer to live near their university or college and have access to public transportation, shops, and other essential services. Additionally, the cost is a key factor, as students are often on a tight budget and seek out options that offer good value for money.
Another important consideration is size and layout. Students look for accommodation that provides enough space for both studying and relaxation, as well as practical storage solutions. They also prefer functional and well-designed spaces that make the most of available space.
Amenities are also an important consideration, with many students looking for options that include high-speed internet, shared kitchens and living spaces, and laundry facilities, among others. Safety and security are also a top priority, as students want to live in a secure environment with measures such as secure entry systems, locked doors, and 24/7 surveillance in place.
Finally, some students prefer to live in shared accommodation with other students, as this creates opportunities for socializing, making new friends, and building a supportive community.
As you can see, Birmingham is indeed a buy-to-let student hotspot. The city boasts a large population, affordable areas, five universities and a high demand for rented property, making it an attractive investment opportunity for property owners. So if you have invested in property elsewhere and want to sell a tenanted property so you can invest in Birmingham, then make sure you give us a call to make this dream become a reality.