Property for sale in Birmingham
The UK’s second-largest city after London, with over a million people and around 3 million in the surrounding urban area, Birmingham is becoming a popular buy-to-let and investment property destination. Affordable housing prices, strong yields, consistent demand from renters and high predicted growth are the key reasons more investors are exploring their options in the city and why Birmingham remains in the UK’s top locations to purchase a property for sale.
Below you can find more reasons to look for a property for sale in Birmingham.
Birmingham is home to a huge financial and professional services sector but is also home to a large innovation hub, green and renewable energies industry, food manufacturing sector, digital and creative companies, and one of the largest advanced manufacturing bases in the UK. Thanks to this diversity of industrial and economic sectors, Birmingham is one of the most sustainable local economies in the UK.
40% of Birmingham’s population is Under 25s. It’s predicted that by 2039 the population of people living in Birmingham will reach 1.3 million.
We know that the demand is a key indicator of a good investment, which is why investing in Birmingham property is promising.
As one of the largest business centres outside the capital, the city employs over 100,000 people and acts as a hub for the wider region. In the last decade, the city has put in place policies to rebalance the economy and attract more private employers.
Today, Birmingham plays host to nationally and internationally significant companies, particularly in professional and business services.
Birmingham is an Attractive Lifestyle Destination
Set to give the city and local economy a further boost, Birmingham Commonwealth Games in 2022 will create 4,500 jobs while attracting 1 million spectators and deliver a £1.2 billion economic uplift. As host of the games, £778 million has been invested in the city and region.
According to Mercer and the list “Quality of living city”, Birmingham is on the 49th position on that list, leaving behind Rome, Washington, Dubai…
This is something that will, even more, increase demand for Property in Birmingham
The overall average property price in Birmingham is £168,700 (an increase of 2.9% compared to last year) which is significantly lower than the UK average of £329,210. Strong yields, affordable prices of properties, consistent demand, and high predicted growth are the key factors that stimulate people to get invested in Birmingham property.
Birmingham is the UK’s second-largest student city
The city and surrounds are home to a thriving student population of around 80,000 students, and the scope and lifestyle offerings of the city continue to make it a popular destination for local and international students.
Birmingham is an ideal location to invest in a student property. The number of students currently outnumber the number of beds available and demand for student housing is a major part of Birmingham’s rental market.
The city’s graduate retention rate has continued to grow over the past decade to reach 41% today. Given that so many students have decided to stay, the city should have a lot of property for sale in Birmingham for those young people who would like to stay in the city after their studies.
Regeneration and investment projects present a great upside for landlords and investors
Birmingham’s Big City Plans is a vision of a 20-year city Centre Masterplan that will encourage and support Birmingham’s continuing transformation into a world-class city centre. This city Centre Masterplan will include 1.5 million square meters of new floorspace, over 50,000 new jobs, £2.1 billion to the economy each year, 65,000 square meters of new and improved public spaces, 28 kilometres of enhanced walking and cycling routes, 5,000 new homes with new leisure and recreational facilities to attract more families, etc.