Birmingham housing market remains resilient
Birmingham’s housing market has remained resilient during the pandemic thanks to the success of greener developments such as Port Loop.
According to the 2021 Buyers Survey conducted by global property consultancy Knight Frank, 72% of buyers rate having a garden, outdoor space or access to an open green area as an important factor in their house-buying decision. This is up from 56% in the 2020 Buyers Survey – suggesting outdoor space is more important to buyers now than before the pandemic.
During this time, Port Loop – Birmingham’s new island community being developed by Urban Splash and Places for People – sold 62 houses, making it Birmingham’s most successful residential development during the pandemic. The most successful month for sales was November – with 11 sales recorded – double the industry average for the local area.
Peter Smith from Knight Frank, said: “We have certainly seen a shift in what people now require to be essential from a new home. Flexibility, outdoor space and community have fast become top priorities for many househunters. In Birmingham, neighbourhoods such as Port Loop have helped meet these changing demands, encouraging purchasers to remain within the city rather than moving further afield.”
A survey of 2,000 respondents commissioned by modern housebuilder House by Urban Splash, found that 42% of Brummies stated they want to live in a community rich in green space – but just a third (31%) currently have access to it. Brummies also ranked local shops and cafés of great importance with 37% of respondents citing these as an ideal feature of a neighbourhood.
Guy Ackernley, commenting on behalf of Joint Venture partners Urban Splash and Places for People, said: “The fact that just a third of Birmingham residents currently have access to green space brings home the importance of delivering parks, gardens and landscaped public realm within newbuild developments.
“For us, green and blue space have been at the centre of the design for Port Loop since we first began masterplanning the scheme. In light of the pandemic, these characteristics have become invaluable to our homeowners and have helped fuel exceptionally high demand for our new homes at Port Loop over the past year.”
All the homes at Port Loop benefit from a one acre public park, as well as residents having access to large communal gardens. Additionally, the homes all have easy access to the canal, where homeowners and the local community have been able to enjoy free kayak lessons and takeaway coffee and cake from The Floating Front Room.
Guy continued: “This year marks an exciting time for Port Loop as we introduce new product ranges to the portfolio of homes, including our first apartments, and see our first homeowners move into our Brick House homes. Restrictions permitting, we also have some very exciting placemaking activities and new partnerships launching this year, including Birmingham’s first Art House and some outdoor theatre productions.”
Following a strong year of sales, there are now just a handful of Town Houses left at Port Loop, with prices starting from £385,000.
Multi award-winning, Port Loop is being delivered by developers Urban Splash and Places for People, alongside the charity, Canal & River Trust, and Birmingham City Council. In total, Port Loop will deliver 1,150 new homes, in addition to new retail and leisure spaces. More information can be found at port-loop.com.
