With a population of just under 1 million, Birmingham is fast becoming one of the Globe’s leading cities. Recent infrastructure development backed by millions of pounds of investments, Birmingham, located in the West Midlands, is the perfect location for investors looking to benefit from long-term returns and minimal tenant void periods. The investment boom could be thanks to a recent announcement, it has been named one of the best worldwide investment locations in IP Global’s Real Estate Outlook Report, not to mention the re location of companies such as Deutsche Bank, HSBC and HMRC that are departing London to set up in Birmingham creating a healthy boost for the cities private rental sector.
Such huge companies transferring to Birmingham over the coming years will bring with them a great number of workers looking to rent or buy their new home proving an already increasing property market rise especially in the core of Birmingham. Last year, house prices rose by 6.1% – more than in any other UK city and with the high-speed rail line connecting London Euston to Birmingham, Leeds and Manchester from 2026, will also ensure Birmingham is more easily accessible than ever before for students, professionals and young families seeking to enjoy the close connection to the ever-popular Jewellery Quarter, the National exhibition Centre and most importantly, New Street Railway Station.
The biggest boost Birmingham will see in the not-too distant future is hosting the amazing Common Wealth Games in 2022. The locations chosen for the previous sporting event have all benefited from the exposure it generates providing a massive economic boom and can bring a long-lasting benefit to its residents, property owners and local businesses alike. The investment opportunities from the games are clear to see with new developments in plan currently.
Birmingham is also renowned for attracting repeat investors boosting the need for luxury housing. In previous years there has been a shortage of larger properties which has now paved the way for developers to build bigger, with more luxurious and quirky features such as exposed brick, balconies and gardens. Even during the hard-hit recession period, these properties were not on the market for long.
If you are looking for a new property and a piece of the market in one of the country’s most talked about cities, then Birmingham could be a wise choice.