Birmingham
Purchasers and tenants are holding the market together in Birmingham, particularly as the city centre is maturing into an attractive and vibrant place to live. Investors have seen much less repossession and forced sale activity here than elsewhere. Clearly there is much more development activity to drive the pipeline further forward, and this needs to be watched with care so that a Manchester-type oversupply does not come in to play. It is advisable to hold and let rather than offload new stock in Birmingham right now.