Birmingham’s reconfirmed position as one of Europe’s leading property hotspots is helping to drive the success of auctions in the West Midlands, an expert has claimed.
The 2018 Emerging Trends in Real Estate Europe report, published today [2 November] by PwC and the Urban Land Institute, once again ranks Birmingham as one of the highest-ranking UK cities for investment prospects – ahead of London and Edinburgh.
Based on the opinions of over 800 real estate professionals in Europe, Birmingham was ranked 21st, up one place from last year and ahead of Edinburgh at 26th and London at 27th.
The news comes just after SDL Auctions Bigwood raised £17.6 million at its latest auction in Birmingham on 18 October – the second highest total ever recorded in the West Midlands.
Rory Daly, auctioneer at SDL Auctions Bigwood, said: “With substantial infrastructure investment from HS2, the extension of trams and major investment in commercial property projects, it’s hardly surprising that Birmingham continues to climb the league table of Europe’s top cities.
“This ongoing prestige means that property auctions in the city are becoming more and more popular, as investors want a slice of the valuable cake that’s been baked in this great city.”
A total of £135 million has been raised by SDL Auctions across the UK so far in 2017 with £70 million raised in the SDL Auctions Bigwood Birmingham auction alone. Another busy auction room is expected at the next auction at Villa Park on 14 December.
The new 2018 Emerging Trends report suggests that Birmingham’s improved position could be in part due to investor cautiousness of overpriced properties in London, with regional cities being seen to provide better growth prospects.
Mr Daly added: “Despite Brexit uncertainty hitting London, there’s a confidence exuding from Birmingham that spreads across the West and the East Midlands, and this is something SDL Auctions Bigwood is seeing as a major growth factor in its business.
“There certainly couldn’t be a better time for owners seeking to sell their properties, and we’d like to invite them to join us on what we think will be another bumper day next month.”
Property owners interested in entering a property in the next SDL Auctions Bigwood auction on 14 December can request a free auction appraisal by calling 0121 233 5046 or emailing Birmingham@sdlauctions.co.uk
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* Each property is subject to a Reserve Price which may be different from the Guide Price. For full definitions see www.sdlauctions.co.uk/glossary.
For further information, please contact:
Chrissie Watterson, Head of Marketing & Communications, SDL Auctions
0115 902 1020
Prepared by Steve Dyson of ASAP PR – 0781 8004575
About SDL Auctions
SDL Auctions is one of the UK’s largest auction networks. It offers both conditional and unconditional lots via traditional in-room and online auctions and sells a wide range of residential and commercial properties on behalf of both private individuals and corporate clients from investment properties and vacant houses to building plots, mixed use buildings and others.
In 2016, SDL Auctions sold over 1,300 lots and raised more than £150m in sales for vendors. Throughout 2017 SDL Auctions will hold 30+ auctions at Villa Park in Birmingham, Pride Park Stadium in Derby, Chester Racecourse, Nottingham Racecourse, the King Power Stadium in Leicester, the bet365 Stadium in Stoke and the AJ Bell Stadium in Manchester.