An introduction to Resi Week
News Categories: future
Birmingham has the largest regional residential property market in England and while the London market is overheated, many investors are turning their attention away from the capital and looking to Birmingham, which offers less competition and higher returns.
BPS Birmingham’s Resi Week puts the spotlight on Birmingham’s residential market and through a series of specially curated events, asks ‘what are the issues surrounding the delivery of new homes?’ – from land availability to affordability and the build-to-rent market.
Birmingham needs 89,000 new homes by 2031 and the 2015 Strategic Housing Land Availability Assessment (SHLAA) identified a capacity for only around 51,800 of these homes, leaving a 38,000-home shortfall.
At present, there is limited new residential stock coming to the market, especially in the city centre. Supply is set to pick up from next year, but demand for housing is growing, in particular for affordable homes and good quality rented accommodation. As demand rises, prices soar and the affordability gap widens.
But what does this mean in real terms for the property market and for residents of the city?
Resi Week September 2016
BPS Birmingham’s Infrastructure Committee has curated three events to address some of the issues facing the Midlands’ residential property sector. We’ll be bringing in industry experts to share their thoughts and answer some of the big questions such as:
- What are the consequences of the housing shortfall?
- What are the ramifications of the shortage of affordable homes?
- What are Birmingham City Council doing to address the city’s housing needs?
- Can PRS fill the gap?
- What impact will devolution have on house building?
- What future trends are we likely to see in residential development?
Wednesday 14 September, 8am at Cushman & Wakefield: People, Property and Place: Housing Issues Discussed
Thursday 15 September, 6pm at Bilfinger GVA: The Future of Residential Development
SIGNPOST: Friday 16 September, 8.30am at Trowers & Hamlins: Making Build to Rent happen in the Midlands
Take part in the conversation on Facebook and Twitter #ResiWeek