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Birmingham’s Harborne is Britain’s fastest-growing ‘hipster hotspot’ according to new data from property website Zoopla. The up-and-coming Birmingham suburb has experienced a 3.04 per cent increase in average property prices since the start of the year, out-performing the rest of Britain, which has seen average property values rise by just 0.67 per cent.
Zoopla identified well-known areas that have recently become – or are in the process of becoming – ‘gentrified’ in 10 of Britain’s largest cities, and looked at property value growth in these locations since January 2017.
Britain’s second city dominates the rankings with five out of the top 10 hotspots (Harborne, Great Barr, Mosley, Kingstanding, Strichley) located in Birmingham. Great Barr takes second place with price growth of 2.25 per cent since January, bringing average property prices to £332,639. Bristol’s fashionable St Paul’s ranks third with a 2.2 per cent (£5,501) price rise since the start of the year.
In the North West of England, the lights of Liverpool burn brightly for the trendy Baltic Triangle neighbourhood, which places seventh on the list. The Merseyside hotspot has experienced healthy price rises of 1.98 per cent since January, bringing average property prices in the region to £146,510 – an increase of £2,846. Further south, Bristol’s Montpellier and Stokes Cross have seen 1.68 per cent growth and 1.43 per cent growth respectively.
In contrast, London’s popular hipster hangouts haven’t performed as well. Renowned hipster favourite Shoreditch has seen modest growth of just 0.68 per cent (£3,536), as has neighboring Dalston (0.55 per cent). Stratford is the capital’s best performing ‘hipster hotspot’, and the only London neighbourhood to make the top 10, with strong price growth of 1.37 per cent.
Lawrence Hall, spokesperson for Zoopla comments: “It’s well documented that house price growth in London has slowed, while growth in large regional cities is still robust. So, seeing Birmingham, Bristol and Liverpool feature prominently in the Zoopla ‘hipster hotspots’ rankings and growing more quickly than their London counterparts is no surprise. Those looking to invest in ‘up-and-coming areas’ could now consider the nation’s second city, as well as Bristol and Liverpool.”
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