Property Auctions in Birmingham, England
Nowhere in the UK has such a wide variety of property for sale and property auctions in Birmingham are both competitive and rewarding. Apart from residential properties of all types at auction, it is also possible to find industrial (such as warehouses and factories), commercial and mixed-use properties.
For those willing to travel outside Birmingham city centre, nearby villages also offer the chance to purchase rural properties, woodland for sale and attend UK land auctions within easy commuting distance of Birmingham.
- Property auctions in England
- Property auctions Scotland
- London property auctions
- Wales property auctions
- Auctions in Northern Ireland
Residential Property Auctions in Birmingham
As far as residential property auctions in Birmingham are concerned, many neighbourhoods in Birmingham reflect certain periods of the city’s growth.
A large proportion of properties in Erdington are terraced back-to-back style homes while areas such as Moseley feature large Victorian detached properties located in tree-lined streets with easy access to urban parks. It is possible to find large Georgian townhouses in Edgbaston while the Jewish Quarter has loft-style apartments on offer.
Narrowing down your choice among all those houses sold at auction can take time. Visiting the neighbourhoods in question and doing your research will help. You need to pinpoint your main criteria – whether that is close proximity to good schools or with easy access to transport links – to help you decide.
Buy-to-let Property in Birmingham
If you wish to invest in UK property, Birmingham is an excellent choice for those interested in buy-to-let properties. Property prices in Birmingham have grown over 200% since 1999 and this trend seems set to continue.
Despite this rapid growth, property prices are still significantly cheaper than buying a flat in London and enable an investor to pick up a bargain. This is what drives so many new investors to attend the competitive property auctions in Birmingham.
With its universities and colleges, Birmingham has a large student population so rental properties are in high demand. Apart from buying a buy-to-let property for students, developments such as the £1.5 billion Birmingham Smithfield Masterplan are attracting more businesses to the city.
Buy To Let Resources:
- Become a private landlord
- Tenant background checks
- What is an assured shorthold tenancy agreement?
- Tenancy agreement template Word Doc
- Tenancy agreement template PDF
This creation of new jobs means that the demographics of the city has changed dramatically. An estimated 40% of the population are now under 25 and these young professionals are the ones who would be looking for a place to rent until they get their foot on the property ladder.
With average rents in the city around £900-£1,000, buying a buy-to-let property in Birmingham would give you a good return on your original investment.
Property Auctions in Birmingham FAQ
How Can I Find Property Auctions in Birmingham?
Visiting local Birmingham auction houses and ordering copies of their catalogues are the best ways to begin your search for property auctions in Birmingham. Auction house catalogues are published regularly, around 3 weeks before the date of the auction. You can also contact local banks to find out if they are about to auction property in the Birmingham area.
How Much Are Houses and Flats in Birmingham?
The average property price in Birmingham is around £205,000. However, prices can vary widely. Your final bid could be higher or lower depending on factors such as the property type, its age/condition and location. Interest from other bidders can also push up the auction house guide price. Typically you could expect to pay anywhere from 20% to 40% less at a property auction in Birmingham.
Where Is the Best Place to Look for Property For Sale by Auction in Birmingham?
Digbeth, Edgbaston, Perry Bar, Erdington, The Jewish Quarter and Sutton Coldfield are all popular areas to buy auction properties in Birmingham. Due to the size of the city and depending on what you intend to do with your property you purchase at auction, it may be better to narrow down your search before attending a property auction in a specific part of the city.
Unusual Properties for Auction in Birmingham
The property market in Birmingham reflects the architecture of any UK city and is mainly terraced, semi-attached and detached properties. However, if you do your research beforehand, it is possible to find unusual and unique properties at most property auctions in Birmingham.
The process of urban renewal has meant that many old warehouses and commercial properties in neighbourhoods such as Digbeth and the Jewish Quarter have been converted into apartments. These loft-style flats have retained many of their former features making them completely different to the usual box-like dimensions of modern apartment blocks.
- Renovation properties at auction
- Home renovation costs
- Unsold auction property lots
- What is a guide price?
- Home improvement grants
Other unusual conversions include the refitting of former chapels, pubs and barns. These types of conversion tend to be found outside the Birmingham city centre or in and around Sutton Coldfield.
Before buying quirky conversions in Birmingham, it is wise to discuss this with your mortgage provider. Auction property financing can be problematic for any building of non-standard materials and/or construction.
It is also wise to check that the legal pack (supplied by the auction house) does not contain any unpleasant surprises regarding the legality of the conversion or restrictive covenants. It is incredibly important that you are aware of any such issues, especially when buying auction properties in Birmingham as the auctions themselves can be hectic and very fast paced.
Arranging a home survey is an absolute must when buying a property at any auction, but especially crucial for any older properties which have been allowed to fall into a state of disrepair.
Be certain of what you are bidding on and remember it may be very difficult to back out of any deal, the least you should expect is to lose your 10% deposit. Property auctions in Birmingham are well attended and the online property auctions are just as busy.
Useful Birmingham Property Resources:
Assess your council tax in Birmingham
Visit Birmingham – Information about visiting the city of Birmingham