Birmingham's fastest-selling streets revealed

National World - LocalTV

Birmingham’s property market is moving fast—especially on streets like Tideswell Road. We speak to estate agent Andrew Oulsnam to find out why some areas are in such high demand and how sellers can speed up the process.

Transcript

00:00Houses on this street sell faster than anywhere else in Birmingham.

00:07Tideswell Road in Greybar tops the list, with homes here selling in just over a month.

00:13That's less than half the average time it takes to sell a property in the city.

00:17But why do buyers move so quickly here?

00:20Is it the location, the type of houses or the price?

00:23And can sellers in other areas do anything to speed up their own sales?

00:27Some properties sit on the market for months, struggling to attract interest, while others

00:32are snapped up almost instantly.

00:34Knowing what drives demand can make all the difference, we're heading to Oldsnam Estate

00:38Agents to find out what makes the difference and whether sellers can take any steps to

00:44make their home stand out in a competitive market.

00:49Price is critical against the size of the property.

00:52Tideswell Road is a very ordinary Birmingham road.

00:55There is nothing spectacular about it, it's actually quite close to the M6, but the price

01:01of the properties against the size they offer to the public are the key considerations there

01:06and price is critical throughout any area that we're selling in.

01:11If a property is overpriced, it will struggle to sell.

01:15While price plays a major role in how quickly a property sells, challenging market conditions

01:20are also influencing buyer behaviour, with house prices stabilising in some areas.

01:25We're seeing a shift in who's active in the market.

01:29First-time buyers are returning, while investor demand is beginning to fade.

01:36First-time buyers are coming back into the market in numbers.

01:40Investors are vanishing following government legislation or proposed legislation on EPCs

01:46and the Rent Act.

01:49The condition of a property is very important.

01:52Building costs are rising all the time at present and the public are more and more looking

01:57at how much it would cost to renovate a property or to improve a property and having a regard

02:03to the cost, I think it's much better to buy a property in a magnetic condition.

02:09Birmingham's property market is always shifting.

02:12Some areas see homes selling weeks, while others sit on the market for months.

02:16With changing mortgage rates and the rising cost of living, people are making more cautious

02:21decisions about when and where to buy.

02:24Some buyers are prioritising affordability, while others are still willing to pay a premium

02:29for the right location.

02:30But what are the key factors influencing these choices?

02:33Are family homes in high demand or is the market still being driven by investors?

02:38And how do new developments and regeneration projects affect local house prices?

02:44Investors are coming out of the market and more and more investors are selling up their

02:49properties and leaving the market.

02:51The main buyers are people who want to live in their homes and condition is their first

02:57consideration after price.

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