Investing in Birmingham, the UK’s Second Largest City
Ranked as the highest UK city for investment prospects in PwC’s ‘Emerging Trends in Real Estate Europe 2017’ report, Birmingham is outshining the capital and other economic powerhouses with its regenerative potential and property price projections, making it a leading city for investment.
The Birmingham ‘Renaissance’
Property experts, developers, journalists and commentators from around the world hail Birmingham as a world-class city, with the ‘Emerging Trends in Real Estate Europe 2017’ report naming it the ‘most investable city in the UK’ and the ‘sixth most investable in Europe’.
The UK’s second largest city is said to have entered a new ‘renaissance’ era, with new developments cropping up and being snapped up by a variety of investors, including overseas capital growth seekers, student landlords and domestic buyers looking for an alternative option to London.
Since 2015, Birmingham has seen the £600m reopening of New Street station, the £50m redevelopment of The Mailbox, and the £150m launch of Grand Central shopping centre and its flagship John Lewis department store, to name a few of the transformative projects creating what’s been called a ‘halo effect’ in the city centre. These major infrastructural changes, coupled with the prospect of HS2, are what have put Birmingham ahead of the likes of London, Milan and Paris in terms of international investment appeal.
Want to learn more about HS2? Read our guide to see how the new high-speed railway is set to transform UK travel and investment.
West Midlands: The Winning Region for Property Price Growth and Affordability
According to Savills’s ‘Why Invest in Birmingham?’ 2018 report, Birmingham is going through a sustained period of growth and investment. House prices have risen faster than any other UK region over the last year, experiencing an 8.6% annual growth and 30% growth in the last five years.
Despite significant property price growth, the report also states that Birmingham remains relatively affordable compared to other UK cities. According to Centre for Cities, the average house price to earnings in Birmingham is 7.2 times the average salary, compared to 16.6 times in London. This makes the city an attractive location for young professionals and first-time buyers.
The Galliard Apsley Partnership
With plans to develop over 2,250 homes as well as a number of regeneration projects, The Galliard Apsley Partnership is set to transform some of Birmingham’s most desirable areas. The partnership’s most recent development is Timber Yard which is set to comprise a range of 379 apartments along with exclusive amenities including a private gymnasium. Other proposals have been submitted across the city which you can learn more about here or speak to a member of our sales team on 0121 227 7071 for more information.
A Property Haven for Landlords
With a population of approximately 1.1m, which forecast to grow to 1.3m by 2039, 40% of the population are under the age of 25. Couple this with a £120bn economy - the largest economy of any UK city outside of the capital - and five universities in the region educating more than 65,000, it’s no wonder Buy-to-Let property in Birmingham is booming. Along with other major UK cities such as Bristol, Nottingham and Manchester, an analysis by Barclays Mortgages places Birmingham as a top spot for landlords.
Properties for Sale in Birmingham with Galliard Homes
Timber Yard, Pershore Street, B5
Selling now, off-plan, Timber Yard is a brand new scheme just an eight minute walk from Birmingham New Street station. With prices from £199,000 and investment yields up to 4.8%, Timber Yard is an investment opportunity not to be missed.
Park Central, Birmingham City Centre, B15
Now successfully sold, each of the contemporary homes at Park Central - which includes a range of one, two and three bedroom apartments - cater to a fast-paced lifestyle, with many including private balcony access with views of the development’s landscaped courtyard gardens. City centre attractions and amenities are also a convenient 15 minute walk away.
For full information on flats for sale in Birmingham, view our property listings or call to speak to our sales team 020 7620 1500.