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Why to invest in Birmingham property?
Birmingham is the second-largest city in the UK with over a million people and around 3 million in the surrounding urban area. This kind of demand for property means that prices grow steadily in Birmingham.
Below you can find more reasons why Birmingham is a great city for property investment.
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.
Birmingham Commonwealth Games 2022 – This event will attract over a million people during the games which will give a massive boost to the local economy. It is expected to invest £778m into the city and region.
According to Mercer and list “Quality of living city”, Birmingham is on the 49th position on that list, putting 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 £298,000. 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’s Big City Plans is a vision of a 20-year city Centre Masterplan which will encourage and support Birmingham’s continuing transformation into a world-class city center. 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 kilometers of enhanced walking and cycling routes, 5,000 new homes with new leisure and recreational facilities to attract more families, etc.