Birmingham is Europe’s youngest city; out of the current population, which has experienced an increase in 100,000 between 2006 and 2016, 45.7% is estimated to be under the age of 30. Birmingham’s youthfulness and central location are two prevailing reasons why the city has created more businesses than anywhere else outside of the capital. Most recent recorded statistics show Birmingham experiencing 17,473 new businesses start up throughout the city.
Project HS2, Europe’s largest infrastructure, worth £56 billion, is due to be introduced in 2026. The high scale project is determined to diminish travel time from Birmingham and the capital to one hour, raising the accessibility to a plethora of jobs for city commuters.
Development activity and strong incoming investment has resulted in Birmingham topping the list for house price growth, with an uplift of 7.5% on average – the highest in England.
Increased demands of city centre living, produce a faster rate of increasing house prices. With average house prices across the city amounting to an average proportionately affordable rate of £197,461, roughly 10,000 less than Manchester and more than £500,000 less than the average London property, Birmingham still has immense scope for further growth.
An accumulation of 65,000 students across 5 Birmingham universities results in landlords looking to the city to secure the best investments for ambitious graduates choosing to reside in the city.
Currently seeking more inward investment than any other UK region, in addition to the city’s continued undersupply of available homes to meet demands, this is an ideal time for landlords to consider a fruitful best investment into a prime city centre location.