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The UK’s second city, Birmingham, now surpasses the UK’s capital, London, in popularity for property investment.
According to world renowned consultancy firm Price Waterhouse Cooper (PwC), Birmingham has become one of the most popular property investment hot spots across the whole of Europe, and is attracting a continuous flow of funds worth Billions of USD$ in fresh investment to its commercial, retail, residential and infrastructure projects.
Prominent institutions such as; HSBC, Deutsche Bank, PwC and UK Govts HMRC to name but a few, are relocating their head offices to Birmingham in the face of its growing regional and national prominence as a geographical economic powerhouse.
Birmingham also successfully bid for and won the prize of hosting the 2022 Common Wealth Games. The status, economic growth and job creation this brings cannot be underestimated.
With a current economy valued in excess of £24.8 billion, Birmingham is acknowledged to be the strongest outside of London, and continues to grow making it second only to London as one of the strongest performing economies in the UK.
In 2017, a joint study published by consulting firms PwC and think-tank Demos, found Birmingham to be the most improved city in the UK to live and work. Falling unemployment rates and a wave of new investment and regeneration projects, as well as being named as having the highest standard of living of all UK regional cities, attributed to its accolade.
Demand for city centre living is extremely high which has resulted in residential housing prices in and around Birmingham increasing faster than any other English city. The cosmopolitan feel of Birmingham and the buzz surrounding the regeneration of the city, underpinned by its fundamental economic data, is the main driver of the Birmingham property investment and housing boom.
Birmingham’s youthful vigour as well as its central locale are two very strong reasons why the city has, in recent years, consistently produced more new businesses than anywhere else outside London. In 2016 Birmingham saw 17,473 new businesses start up in the city which by far surpassed any other regional city throughout the UK.
It is this type of solid inward investment that generates the ideal circumstance for a rise in rental demand. Birmingham has been the most popular destination for professionals and families leaving the UK’s capital for the last three years or so, catching the attention of young workers that are searching for a cost effective alternative to London without compromising their current or future employment opportunities.
Simon Mobley, Managing Director of Edifice Invest Ltd, a prominent and well respected boutique property investment advisory explains “what we have in Birmingham is quite unique when compared to other areas of the UK. Birmingham has become an economic powerhouse second only to London with prominent institutional entities relocating here from London bringing with them thousands of employees that have to be housed.”
Simon went on to explain “There just isn’t enough housing stock to cope and it is doubtful housing stock will catch up with initial demand for another 5-10yrs. That doesn’t even take into account the organic housing needs of the city itself. From an investors point of view, there really isn’t anywhere else in the UK that can fulfil and tick all the boxes for investment that Birmingham does, especially when taking into account the commencement and build of HS2”.
HS2 is Europe’s largest infrastructure project, worth in excess of £56 billion (circa USD$ 72Bln), with Birmingham’s city centre hub scheduled for completion by 2026.
This ambitious project, the largest in Europe, will see travel times between Birmingham and London slashed to under one hour, increasing accessibility to jobs for City commuters.
Essentially, one could leave Birmingham and be at ones desk in London before a person living in London could reach theirs after fighting their way across the extremely busy London commute. That in itself is a stunning revelation.
Learn more about the Birmingham investment proposition from Edifice Invest at: https://www.edificeinvest.com
Or contact them directly:
Edifice Invest Ltd
St Georges Building, 34 Carver Street
Birmingham, England, B1 3AS
Telephone: 0121 573 0133
Email: Info@edificeinvest.com
Release ID: 408194