Buying a Repossessed House in Birmingham

By January 29, 2012House Repossession

Current List of Repossessed Houses for Sale in Birmingham
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What is it about repossessed houses for sale in Birmingham that makes them different from repossessed houses for sale in any of Britain’s cities?  Probably there is nothing different about the houses per se; a repossessed house is a house is a house is a… you get the picture.  It is the location that is special.

Birmingham is Britain’s second city and with property styles ranging from luxuriously decadent, through boutique chic, to the most economical low-cost but lovely starter homes, there are repossessed properties for sale in Birmingham to suit all requirements and all budgets; in fact, there can’t be many places better to start your search for your below market value (BMV)property.

There are forty electoral wards in the greater Birmingham area, each with its own characteristics. Sutton Coldfield at the northern boundary boasts two grammar schools and enjoys upmarket retail outlets, while Longbridge in the south west of the region, has experienced real hardship with the recession and contraction of the motor manufacturing industry on which it was built.

In a nutshell, whatever your requirements for a bmv property, you are more or less guaranteed to find what you’re looking for in Birmingham.

Birmingham Statistics

  • Located – West Midlands
  • Miles from London – 121 miles north west
  • Density: Birmingham –  3,649 people per km2
  • Density: London – 4,761 people per km 2
  • Population: Birmingham – 1,028,700. (2009)
  • Population: Greater London – 7,753,600 (2009)

Birmingham Property Values 2012

Currently there are around 4,300 properties for sale in Birmingham, with an average price of £151,990. This figure represents a drop of £13,580 (-8.68%) over the past five years; in fact, Birmingham property values have declined over each of the last five years.  The last three months alone have seen a fall of £674 (-0.47%).  The rental market is buoyant, with the average monthly rent sitting at £703; there are currently 2,393 properties on Birmingham’s rental market.

Statistics such as these means the Birmingham repossessed property market is ripe for investment. Compare this to the London market where property values have increased by £8,000 (1.97%) on average over the last 5 years but fallen £900 (-0.22%) in the last three months.

BMV Property for Sale in Birmingham

Birmingham B72

 

Cash buyers only are sought for this one bedroom first floor apartment in Wylde Green, Sutton Coldfield.  Originally marketed for £85,500 in April, 2011, this property is now reduced to £60,000

One bed apartments in B72 are currently valued at an average of £128,950, or £191 per square foot.

 

Birmingham B38

There is vacant possession on this three-bed terraced property, which is offered for sale by public auction. The guide price £59,000.

 

Three-bed terrace houses in Birmingham currently have an average value of £106,968, which equates to £141 per square foot. This is possibly a repossessed property for sale in Birmingham as it is vacant.

 

Birmingham B20

This three-bed terrace house in the Handsworth area of Birmingham is on the market with an asking price of £109,950.

The average price paid for similar properties over the last twelve months is £128,845.  Current average values are £118,172, equating to £134 per square foot.

Birmingham Repossessed House and Below Market Value (BMV)

Auction Agents

Pattinson

4 Fellside Road
Whickham
Newcastle Upon Tyne NE16 4JU

Tel:  0191 300 8558

Choices

Interlet House, Park Chesterfield
Chapel Road
Smallfield
Surrey RH6 9NW

Tel: 01342 777509

We hope you find this brief overview of repossessed houses for sale in Birmingham a useful ‘jumping-off’ point. Whatever type of property you are interested in buying and whether it’s destined to be your own home or an investment purchase, Birmingham is hard to beat in terms of choice and potential.