Birmingham for the past year has been basking in the glow of a successful hosting of the Commonwealth Games, which brought fresh investment and attention to a city which is often overlooked. Birmingham has left a strong mark on British life – after all, it is the birthplace of such institutions as Thomas the Tank Engine, the Balti curry and of course Cadbury’s chocolate!
But what is Birmingham like to live in? Should you make Birmingham the place of your next investment or should you settle down and put roots in the city yourself? Let’s look and guide you through everything in Birmingham so you can make an informed choice.
Moving to Birmingham
Relocating to Birmingham means stepping into a city teeming with activity and diversity. For those looking for urban culture, the Digbeth district is where it is at. Frequently listed as one of the UK’s hippest neighbourhoods, Digbeth is a lively mosaic of bustling venues popular among Birmingham City University students. The area is also known for its eclectic entertainment options, including places like Ghetto Golf and Roxy Ball Room.
Birmingham’s nightlife is getting better all the time too. Whether you’re drawn to historic taverns or modern lounges, the city’s evening offerings are vast.
As you can see plenty is going on here. Now it is time to get into the facts and figures to see if a move to Birmingham is right for you.
So you’ve decided to take the plunge and go house hunting. What is the property situation like in Birmingham, could you sell house fast if you needed to either via an estate agent or a cash home-buying service like We Buy Any Home?
It is no secret that property prices in Birmingham offer a more budget-friendly option compared to the broader England and Wales market. As of August 2023, the average property price in Birmingham is £282,000, significantly lower than the national average of £360,000. Even the median price stands at £235,000 in Birmingham, compared to £275,000 across England and Wales. While property prices in the city have seen a 6% increase over the past year, the market remains accessible, with most sales occurring in the £150,000 to £250,000 range.
The rental market in Birmingham is not just attractive to residents but also to investors, showing considerable growth in the latter half of 2022. Rent for new one-bedroom flats averaged £900 per month, while two-bedroom flats went for £1,200 per month. These figures represent a significant uptick of 16% and 20% respectively compared to the end of 2021.
Where to Live
If you’re considering a move to Birmingham, you must head to the areas of the city that you can afford. There are plenty of choices depending on your budget:
- For luxury seekers, Edgbaston is an affluent neighbourhood close to the city’s Botanical Gardens, with an average property price of £310,510.
- Knowle, another upscale area near Solihull, is popular among families, with homes averaging £617,752. You’ll need a big budget to move here!
- For a more youthful and affordable experience, Digbeth offers creative spaces and an average property price of £180,000. Digbeth is the country’s hippest neighbourhood, so competition for housing here is fierce.
- Small Heath is an emerging area attracting investors due to its lower prices and developmental prospects, with homes averaging £153,642.
- Erdington, located northeast of the city centre, has seen a 13% property price increase, with homes averaging £255,275.
- For those who prefer urban living, Birmingham City Centre offers a dynamic environment and an average property price of £236,222.
If you want to make the move, factoring in the actual costs of moving is important – and is something many people overlook. Whilst costs will vary hugely on where you are moving to and from, as a general rule we estimate that the average moving cost – hiring a removal van for example – could be around £1,300. This estimate typically encompasses:
- The manpower for loading and unloading your items.
- Costs for packing materials and services.
- Fees for taking apart and reassembling furniture.
- Charges for the distance covered during the move.
Once you’ve secured your new home, either through buying or renting, it’s time to factor in ongoing expenses. For a standard Band D residence, you can expect a council tax bill of around £1,905 in Birmingham, which saw a maximum increase of five per cent last year. Electricity costs in the city are quite in line with the UK national average.
Financially speaking, Birmingham offers advantages over more expensive cities. A family of four faces estimated monthly costs of about £2,376, excluding rent. For a single person, these non-rental monthly costs are roughly £704.
As of September 2023, Birmingham boasts a diverse job market with 2,504 job openings according to the Department for Work and Pensions (DWP). The available positions span a variety of sectors, from retail roles like store assistants to service jobs such as housekeepers, and critical healthcare positions including nurses. Financial prospects in the city are also promising, with Totaljobs.com reporting an average salary of around £28,000. This range of opportunities and competitive compensation makes Birmingham an attractive location for job seekers from various backgrounds and skill levels.
Pros and Cons of Living in Birmingham
Birmingham like any city, has things that people love and things that people are not sure about. These can include:
Birmingham offers a variety of city-living attractions but with a more moderate cost of living compared to other large cities.
Strong Job Market
With its size and diversity, Birmingham has a robust employment scene, catering to a wide array of professional and casual roles in the gig economy.
Birmingham is an emerging hub aiming to become an attractive alternative to London. The city is undergoing development with new venues and businesses appearing regularly.
As a multicultural city, Birmingham is rich in global foods and cultures. The friendly locals add to the city’s welcoming atmosphere.
Poor Public Transport
Though functional, Birmingham’s public transportation is neither as efficient nor as extensive as systems like London’s Tube.
Like much of England, Birmingham experiences its fair share of rainy and cold weather, making it less appealing if you prefer a warmer climate down south.
Traffic and Costly Parking
The city experiences traffic congestion and ranks as one of the more expensive UK cities for car ownership, primarily because of high parking permit costs.
If you are looking to move out of the city and sell house fast, we are keen to speak with you. At We Buy Any Home you will be involved in every step of the property selling process. The journey will be 100% transparent and you will never be left confused. So get in touch with our team of experts today and get ready to receive an offer on your property within a few days.