Handsworth has been identified as one of the UK’s city neighbourhoods which could become a property hotspot.
Research produced by the UK’s largest property website Rightmove suggests that a number of little known neighbourhoods which were previously seen as more undesirable than others could now see rapid gentrification.
The research has been obtained by The Times, revealing the locations where property interest has grown.
Analysis of buyer demand in some of the biggest cities in the UK, along with the number of inquiries to local estate agents over the last 12 months, revealed the neighbourhoods where interest has grown, including Handsworth.
Why is Handsworth becoming a property hotspot?
According to The Times, the research from Rightmove shows that there has been an increase in demand for property in Handsworth by 52% in the past year.
Average house prices in the town are £158,350, and the annual price growth is 15%.
It’s a boost for the neighbourhood which suffered with the Handsworth riots in the 1980s, which saw police and property attacked and looting.
Mohammed Hamed, a director of the Hunters estate agency, told The Times that Handsworth is attracting more and more buyers because people are being priced out of other locations such as Edgbaston.
Mr Hamed said: “About six months ago you could get a three-bedroom terraced house for £135,000 to £140,000, now the same houses are selling at £175,000.”
And the neighbourhood is now appealing to more and more families in Birmingham.
There are two grammar schools: King Edwards for boys and King Edwards for girls, and it’s also only a short distance to Birmingham city centre.
There are many shops and restaurants on Soho Road, but, “It is nothing like the Jewellery Quarter or Digbeth,” Mr Hamed said. “It is more of a family place.”
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