{"id":2123,"date":"2017-01-16T12:00:12","date_gmt":"2017-01-16T12:00:12","guid":{"rendered":"https:\/\/www.buyassociation.co.uk\/?p=2123"},"modified":"2017-01-16T12:00:12","modified_gmt":"2017-01-16T12:00:12","slug":"londons-property-market-says-no-birmingham-will-welcome","status":"publish","type":"post","link":"https:\/\/www.buyassociationgroup.com\/en-us\/2017\/01\/16\/londons-property-market-says-no-birmingham-will-welcome\/","title":{"rendered":"When London\u2019s property market says no, Birmingham will welcome you"},"content":{"rendered":"<p><strong>Housebuilders in London\u2019s luxury property market are now looking into England\u2019s North as a source of future growth as the capital\u2019s high-end property market undergoes a downturn.<\/strong><\/p>\n<p>Berkeley Group, one of London\u2019s luxury builders, has now opened a new division in <a href=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2018\/02\/15\/birmingham-will-transformed-commonwealth-games-2022\/\">Birmingham<\/a>, its first one outside of London and the south-east in more than a decade.<\/p>\n<blockquote class=\"wp-embedded-content\" data-secret=\"nelAQx8XgB\"><p><a href=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2016\/12\/15\/mixed-news-london-property\/\">Mixed news for London Property<\/a><\/p><\/blockquote>\n<p><iframe class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; clip: rect(1px, 1px, 1px, 1px);\" title=\"&#8220;Mixed news for London Property&#8221; &#8212; BuyAssociation Group\" src=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2016\/12\/15\/mixed-news-london-property\/embed\/#?secret=Je2I5vdTB1#?secret=nelAQx8XgB\" data-secret=\"nelAQx8XgB\" width=\"600\" height=\"338\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe><\/p>\n<p>With tougher property taxes and <a href=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2016\/12\/16\/pessimistic-brexit-countrys-economy\/\" target=\"\" rel=\"noopener noreferrer\">the Brexit vote<\/a>, prime properties in the capital have dropped by 12.5% since its peak in 2014, estate agent Savills states.<\/p>\n<p>By starting its new division in Birmingham, Berkeley is now changing its original strategy from 2005 when they were only <a href=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2016\/10\/30\/greedy-sellers-keep-property-market-extra-month-especially-london\/\" target=\"\" rel=\"noopener noreferrer\">focusing on property in London<\/a> and the south east, the Financial Times reports.<\/p>\n<p>Rob Perrins, chief executive of Berkeley, says:<\/p>\n<blockquote><p>\u201cBirmingham is on the rise, with a can-do council that seems keen to encourage development. We want to bring a distinctive approach to the local market.\u201d<\/p><\/blockquote>\n<p>The new division will create a range of new housing, from <a href=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2016\/11\/21\/number-affordable-homes-uk-continues-majestic-fall\/\" target=\"\" rel=\"noopener noreferrer\">affordable and family homes<\/a> to luxury housing and student accommodation.<\/p>\n<p>Anthony Codling, analyst at Jefferies, said: \u201cThere is a view from some investors that having all your eggs in the London and the south-east basket is a double-edged sword, and it\u2019s swinging one way at the moment. It can potentially be viewed as a negative.\u201d<\/p>\n<p>Berkeley\u2019s move may not come as a giant surprise as an oversupply of new-build apartments in London has been looming for a bit, the Financial Times state after viewing research documents by Molior London.<\/p>\n<blockquote class=\"wp-embedded-content\" data-secret=\"kJm863inKI\"><p><a href=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2016\/12\/27\/2016-2017-tax-changes-impacting-buy-let-market\/\">From 2016 to 2017: What tax changes are impacting the buy-to-let market?<\/a><\/p><\/blockquote>\n<p><iframe class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; clip: rect(1px, 1px, 1px, 1px);\" title=\"&#8220;From 2016 to 2017: What tax changes are impacting the buy-to-let market?&#8221; &#8212; BuyAssociation Group\" src=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2016\/12\/27\/2016-2017-tax-changes-impacting-buy-let-market\/embed\/#?secret=VKjbooyLn1#?secret=kJm863inKI\" data-secret=\"kJm863inKI\" width=\"600\" height=\"338\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe><\/p>\n<p>The same research says that the number of construction starts of new homes in inner London have been higher than those sold since 2012 which led to more than 10,000 unsold units by the end of 2016.<\/p>\n<p>In December, Berkeley revealed that its <a href=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2016\/10\/19\/property-rentals-sales-first-time-since-1930s\/\" target=\"\" rel=\"noopener noreferrer\">sales reservations<\/a> dropped by 20% since the country voted to leave the EU in June last year. Additionally, the builder explained that most of its recent purchases had been in outer London and the home countries rather than the inner London market.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Housebuilders in London\u2019s luxury property market are now looking into England\u2019s North as a source of future growth as the capital\u2019s high-end property market undergoes a downturn. Berkeley Group, one of London\u2019s luxury builders, has now opened a new division in Birmingham, its first one outside of London and the south-east in more than a<a class=\"excerpt-read-more\" href=\"https:\/\/www.buyassociationgroup.com\/en-us\/2017\/01\/16\/londons-property-market-says-no-birmingham-will-welcome\/\" title=\"ReadWhen London\u2019s property market says no, Birmingham will welcome you\">&#8230; Read more &raquo;<\/a><\/p>\n","protected":false},"author":1069,"featured_media":4556,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[197,12,42],"tags":[22,11,48],"acf":[],"_links":{"self":[{"href":"https:\/\/www.buyassociationgroup.com\/en-us\/wp-json\/wp\/v2\/posts\/2123"}],"collection":[{"href":"https:\/\/www.buyassociationgroup.com\/en-us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyassociationgroup.com\/en-us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-us\/wp-json\/wp\/v2\/users\/1069"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-us\/wp-json\/wp\/v2\/comments?post=2123"}],"version-history":[{"count":0,"href":"https:\/\/www.buyassociationgroup.com\/en-us\/wp-json\/wp\/v2\/posts\/2123\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-us\/wp-json\/wp\/v2\/media\/4556"}],"wp:attachment":[{"href":"https:\/\/www.buyassociationgroup.com\/en-us\/wp-json\/wp\/v2\/media?parent=2123"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-us\/wp-json\/wp\/v2\/categories?post=2123"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-us\/wp-json\/wp\/v2\/tags?post=2123"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}