Birmingham often lingers under the shadow of London and Manchester, but it has done well in proving itself as the UK’s second city. Birmingham is the home of Cadburys, Jaguar Landover, potentially the HS2 rail link and a clutch of blue chip accountancy firms such as Grant Thornton and PWC.
The residential market in Birmingham has changed beyond all recognition following the slowdown in 2008. Over the preceding years, the market remained static but in 2013 the market in Birmingham began to see significant changes and demand outstripped supply for investment property. As money remains relatively cheap and the mortgage market is becoming less onerous, this demand is unlikely to recede.
Birmingham has much to be proud of as it’s continues to be known as one of the most thriving cities in the UK and is admired for its great central location. It attracts millions of people each year; showing itself as a great city to study, work and to live.
Birmingham's New Street is the busiest rail interchange outside of London. It is also the centre of the National Express bus network and has its own international airport, which is served by major airlines such as Emirates Airlines and provides connections to New York, Amsterdam, Paris and many more popular destinations.
With three universities Birmingham is considered a prime location to study and holds the UK’s second largest student population outside of London. More and more overseas students and young working professionals are choosing to settle in Birmingham as it offers a vibrant lifestyle along with affordability and exceptional transport links to the rest of the UK and beyond.
As urban city centre living is becoming increasingly popular among the young working professionals, the rental market is thriving, meanwhile attracting more and more buy to let investors to Brum. The city centre in particular provides landlords with strong yields and little worry as to whether their property will let.
Birmingham was recently voted one of the top ten investment hotspots as prices in London continue to escalate to unprecedented levels. With the latest investments including the £600m redevelopment of Birmingham New Street Station and the recent approval of £32Bn HS2 rail link to London, Birmingham will only be a 49 minute journey from the capital, making it a desirable location for investors and owner occupiers.
Such development schemes are drawing new companies into the city and enabling Birmingham to further build on its reputation as a leading competitor amongst major European cities. The recently opened Library Of Birmingham (the largest in Europe) and the development of Grand Central-which will sit above the New Street Station, is certainly laying a solid foundation for Birmingham to become the business centre of the future.
Birmingham showcased such regeneration projects at the MIPM, which is the world’s largest real estate show. The show took place in Cannes and welcomes a range of over 2,000 participants including investors, CEO’s and journalist. Birmingham highlighted a number of its flagship schemes and the cutting-edge regeneration projects for its infrastructure, providing a range of opportunities for investors and developers
Over the next few years Birmingham will see significant investment in infrastructure, including the extension on Birmingham International, so this is an ideal time to consider Birmingham as an investment potential.
To find out about investment opportunities in Birmingham click here
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