Elevate Property Group, the developer of the prestigious Princes Gate apartments in Solihull, has welcomed the Government’s decision to go ahead with HS2 as the area could be set for an unprecedented era of economic growth and rising property prices on the back of its arrival.
It brings Solihull and south east Birmingham within the magic one hour commute into London and according to the latest predictions from national estate agents Savills, Solihull could also be on the brink of a sustained period of house price growth.
Over the next five years, property prices in the West Midlands are expected to grow by as much as 18.2% against a national average of 15%.
David Hofton, sales and marketing director at Elevate Property Group, said: “Solihull has always been one of the most desirable areas in the West Midlands in which to live and invest and has historically outperformed the region as a whole.
“We expect investment in the areas around the Solihull borough, NEC and Birmingham International Airport to grow exponentially with the coming of HS2’s Interchange Station, which will connect to London in 38 minutes and Manchester in 37 minutes.
“Princes Gate is just 15 minutes from the site of Interchange Station and with travel times into London as low as 38 minutes and property prices as little as half those quoted in some London boroughs, Solihull suddenly looks very attractive, both to investors and to owner-occupiers.”
The UK is already seeing a surge in property sales and prices rising following the General Election and Brexit finally happening, and David Hofton is predicting a further rise in property prices in the Solihull, south east Birmingham and north Warwickshire areas.
“Interest is definitely on the up and canny investors can see that HS2 bringing London within one hour can only help drive prices in one direction.
“This means that there has never been a better time to buy and Princes Gate is perfectly positioned to take advantage of increasing demand for quality accommodation.”