I have been writing a bit about property in the Midlands recently more on that in a few weeks. So I was particularly interested to see that the Let's Move To column in The Guardian magazine this week was on Kings Heath in Birmingham.
Kings Heath, says Tom Dyckhoff, is the "promised land" of suburbs. It is a mere 15 minutes from Birmingham's New Street station (itself the subject of a stunning refurbishment); it has lovely houses, tree-lined streets, super parks, good schools and just the right number of tea rooms; and it has something of a music scene too.
Better still, if the fast growing Birmingham economy doesn't do it for you (remember George Osborne telling us at his last budget that there is a job created in the Midlands every ten minutes?), it really isn't far to London. Trains from New Street to Euston take around an hour and 20 minutes, a time that should be slashed by H2S.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
To London eyes, Kings Heath houses are stupidly cheap. Six-bedroom Victorian detached? Yours for £475,000. Five-bedroom terraced? £350,000. Three-bedroom? £260,000.
Don't want to travel all that way every day? No problem. Sell your house in Fulham for £2m. Buy the nice detached Victorian for £450,000. Spend another £400,000 on a studio in central London (perhaps this one), and pop the other million in the bank.
The interest on that, even at today's rates, should cover the cost of your travel. Tempting, isn't it? It is also one reason why we expect the price of London property to fall relative to non-London property (or the price of non-London property to rise relative to London property).
-
House prices rise 2.9% – will the recovery continue?House prices grew by 2.9% on an annual basis in September. Will Budget policies and ‘higher-for-longer’ rates dent the recovery?
-
Nvidia earnings: what to expectNvidia announces earnings after market close on 20 November. What should investors expect from the semiconductor giant?
-
Beating inflation takes more luck than skill – but are we about to get lucky?Opinion The US Federal Reserve managed to beat inflation in the 1980s. But much of that was down to pure luck. Thankfully, says Merryn Somerset Webb, the Bank of England may be about to get lucky.
-
Rishi Sunak can’t fix all our problems – so why try?Opinion Rishi Sunak’s Spring Statement is an attempt to plaster over problems the chancellor can’t fix. So should he even bother trying, asks Merryn Somerset Webb?
-
Young people are becoming a scarce resource – we should value them more highlyOpinion In the last two years adults have been bizarrely unkind to children and young people. That doesn’t bode well for the future, says Merryn Somerset Webb.
-
Ask for a pay rise – everyone else isOpinion As inflation bites and the labour market remains tight, many of the nation's employees are asking for a pay rise. Merryn Somerset Webb explains why you should do that too.
-
Why central banks should stick to controlling inflationOpinion The world’s central bankers are stepping out of their traditional roles and becoming much more political. That’s a mistake, says Merryn Somerset Webb.
-
How St Ives became St Tropez as the recovery drives prices sky highOpinion Merryn Somerset Webb finds herself at the epicentre of Britain’s V-shaped recovery as pent-up demand flows straight into Cornwall’s restaurants and beaches.
-
The real problem of Universal Basic Income (UBI)Merryn's Blog April employment numbers showed 75 per cent fewer people in the US returned to employment compared to expectations. Merryn Somerset-Webb explains how excessive government support is causing a shortage of labour.
-
Why an ageing population is not necessarily the disaster many people think it isOpinion We’ve got used to the idea that an ageing population is a bad thing. But that’s not necessarily true, says Merryn Somerset Webb.
