Secure a long term investment as well as a new home

With news that house prices have risen for the eighth consecutive month, Birmingham buyers keen to secure both a new home and long term investment may be wise to act now.

One of the UK’s leading lenders, Nationwide, reported UK house prices were up 0.4% for the month of December*, building on previous month on month increases.

With this in mind astute buyers may decide now is the right time to purchase one of Redrow’s brand new apartments at Hemisphere, in Edgbaston, that could potentially double up as a comfortable home and good long-term investment.

Pauline Turnbull, sales director for Redrow Homes (Midlands), says: “With independent evidence from several lenders that house prices are continuing to creep up and talk of under-supply from the Royal Institution of Chartered Surveyors, those thinking of moving should seriously consider doing it now. They could be securing an investment that will potentially give them a better return for their money in the long run, especially with interest rates on most savings accounts currently so low.

“We have a selection of one and two-bedroom properties at Hemisphere, which really is a lovely development. It is only a mile-and-a-half from Birmingham city centre, adjacent to Warwickshire County Cricket Ground and overlooks the green oasis of Cannon Hill Park - locations don’t come much better than this.”

In addition to securing a great home, purchasers will also be buying into one of the big benefits of a new property – no need for costly renovation.

In fact, Redrow has calculated that it can cost almost £30,000** to bring an older second hand property up to the same standard as one of their new homes.

Pauline continues: “By contrast, in a Redrow home everything has been done for them already, with an up to date specification and high quality finish. Our homes feature the latest kitchens and bathrooms designs, with top brand name appliances and superior fixtures and fittings; and they’re well insulated with full central heating and double glazed windows.”

Hemisphere is part of the wider Edgbaston Mill development, and residents will benefit from the facilities of an on-site hotel, health club, shops, bars and restaurants.

Currently there is a choice and of one-bedroom apartment from £112,500 and two-bedroom apartments from £167,750. Redrow may also be able to offer 5% deposit paid.

For more information on the properties available at Hemisphere, go to redrow.co.uk.

* Latest house price statistics from nationwide.co.uk

**  £30,000 estimate (inc vat) based on upgrading a typical three-bedroom house,  including new kitchen units & appliances, new heating system,  replacement wiring and remedial plastering, additional loft insulation, redecoration including materials, new bathroom suites, including ground-floor cloakroom and en-suite, replacement windows, new guttering including fitting and replacement of fascias.