LoginSubscribe to Alerts

One-on-one interview: Ben Evans, FleetMilne Property 

Posted 27 October 2016 by Keith Osborne

We speak exclusively to Ben Evans, the managing director of a sales and lettings agency with expert knowledge on the property market in Birmingham...

This week’s exclusive interview looks at Britain’s second city, Birmingham, and gets some market insight and opinion, from Ben Evans, a leading figure at estate agents and property consultants FleetMilne Property.

Hi, please tell us a little about yourself and your company.

I’ve been working at FleetMilne Property for 11 years, joining as lettings manager from a competitor in 2005, buying my equity in 2013 and becoming managing director in 2014.

The agency specialises in selling, letting and managing luxury properties in Birmingham city centre, as well as providing consultancy services to developers and professional landlords. We’ve won numerous local and national awards and pride ourselves on being committed to offering a quality service, as well as being experts on the local market.

How has the market been in Birmingham this year?

There is so much demand for good-quality property in Birmingham, both to rent and to buy. Our turnover is up 26% in 2016 to date, compared with the same period last year, demonstrating a real upturn in transactional activity.

Investment into the city is also growing rapidly, with many new professionals moving to the city; Birmingham is one of the youngest cities in Europe, it’s the most migrated to UK destination from London and, as such, has a very strong – and growing – property market.

Has the substantial regeneration of Birmingham city centre led to major price hikes in recent years?

Birmingham city centreIt’s a very exciting time for Birmingham at the moment. Last year saw the opening of the much-improved New Street station and the new Grand Central shopping centre, as well as the introduction of the Metro system around the city. The regeneration of Paradise is also underway which will help to connect Brindleyplace and the business district, and every week it seems there’s a new bar or restaurant opening up in the city centre.

This activity has clearly led to an increase in popularity for the city but, unfortunately, the quality and quantity of the residential offering has failed to keep pace. Yes, prices have increased, with city centre stock now achieving pre-recession pound-per-square-foot levels, but this is due in large part to the shortage of homes, rather than a truly exceptional or innovative offering.

Has the promise of HS2 already impacted on property prices and is it investors or owner-occupiers benefiting the most?

To be honest, whilst developers are certainly shouting the praises of HS2, it’s still too far off to have had any impact on property prices just yet. Realistically, this is unlikely to change until people can see it firmly on the horizon.

How has the Brexit vote affected buyer confidence and activity in this part of the country?

Whilst there is anecdotal evidence locally of some sales falling away in the wake of the leave vote, as an agency we are grateful to yet be affected by it. There’s no question that market conditions and confidence are likely to suffer some turbulence as the terms of Britain’s exit from Europe are negotiated but, as long as we don’t talk ourselves into a recession, then the macro factors that influence the housing market – namely supply and demand – are set to continue to support house price growth in Birmingham, particularly in the more desirable locations.

How have all these factors affected the supply and demand of new build homes here in general?

In Birmingham, the demand isn’t specifically for ‘new build’, just for good housing stock, so this is hard to answer. Ultimately, as there are not enough homes to meet demand – particularly in the city centre – then, yes, there is certainly a demand for developers to build more new homes.

What are the most active new homes developments on your books at the moment?

Currently, there are very few new home developments available in Birmingham city centre, so the majority of our house sales are from the second-hand market. Instead, developers are focussing more heavily on developments designed specifically for the private rented sector (PRS) which are proving very successful.

Take for instance One Swallow Street, which is located near New Street Station and Grand Central, where we let all 55 apartments in just two weeks when it was launched. This tells you everything about the current levels of demand.

Is there anything in the pipeline that you think will get an exceptional reaction from buyers?

The next 18 months will see a number of new developments come onto the market in Birmingham. We’re working on a great project at Herbert House on Cornwall Street, right in the heart of Colmore Business District which we hope will help meet the demand of a number of young professionals coming to the city.

We predict that the Jewellery Quarter will remain a popular choice with people looking to live in the city centre and access a local, independent leisure offering, and a beautiful new development overlooking St Pauls Square will certainly get people excited in the coming months.

 

Alan Watt of Barratt Manchester
2 February 2024
We hear from Manchester head of sales and marketing Alan Watt about what great incentives Barratt is offering first-time buyers this year...Read more
Sterling Place (Barratt London)
22 December 2023
Stuart Leslie of Barratt London looks ahead to what London's property market may look like in 2024...Read more
Queens Cross (Mount Anvil)
18 December 2023
WhatHouse? speaks with Lucy Hopkins, marketing director at Mount Anvil…Read more
Sign up for email alertsGet the latest properties and updates sent directly to your inbox daily, weekly or immediately you are in control.
Subscribe to Alerts
Search news and advice

Click here to see your activities