Birmingham is located right in the heart of the United Kingdom and is one of the most popular cities in the UK, inhabiting roughly 1.1 million people. Figures from the ‘Office for National Statistics’ show that Birmingham is the largest centre in the UK for employment in sectors such as education, public administration and health and the second largest centre (outside of London) in numerous other business services, including finance. Birmingham is also a fantastic place to study, with five universities situated in the city.
As well as being a great place to work and study, Birmingham is also an extremely stunning city. With more canals than Venice and more trees than Paris, Birmingham manages to offer an extremely unique mix of industrialisation and nature – featuring over 600 parks and open spaces (according to the city council) to compliment the ever-expanding modern architecture in the centre.
Here are some of the key features of Birmingham that make it one of the most exciting investment locations in the current market:
City Centre Developments
Birmingham’s growth in recent years has been exponential, becoming one of the fastest growing cities in the UK. This is in part thanks to the ‘Big City Plan’, a 20-year plan for the development of the city centre. The plan is creating thousands of new homes, 65,000 square metres of public space, 28 kilometres of enhanced walking and cycling routes, and 1.5 million square metres of new floorspace. All of this is projected to generate 50,000 new jobs and £2.1 billion for the economy annually. The numerous developments have only helped the house prices in the city, with a continuous steady rise since 2009 – with no signs of wavering any time soon.
Student Population
With almost 40% of Birmingham’s population being under 25, it’s safe to say this is one of the youngest cities in Europe. A large portion of the 40% comes from the massive student population. As mentioned earlier there are five universities in Birmingham (Aston University, Birmingham City University, Birmingham University, Newman University, University College Birmingham), and these five universities produce an estimated 110,000 graduates each year – the second largest in the UK – which results in a huge student property market.
Transport
Birmingham is one of the most accessible cities in the world, connected to numerous other places via a multitude of transport options. The longest motorway in Britain, the M6, passes straight through Birmingham on the Bromford Viaduct, and offers connections to many different motorways along the way. Birmingham is also home to the famous ‘Spaghetti Junction’ (Gravelly Hill Interchange) which is possibly the most well-known motorway junction in the UK. There are plenty of transport options within the city itself including multiple train stations – the busiest of these being Birmingham New Street. Alongside New Street you have Birmingham International, which offers links to both Birmingham International Airport and the National Exhibition Centre (NEC). The amount of available transport options only increases the appeal of moving to Birmingham, even if a person doesn’t work in the city itself.
Commonwealth Games
In just under three years’ time, Birmingham will host the 2022 Commonwealth Games. The Commonwealth Games is the second-largest sporting event in the world in terms of the competitor numbers and will feature athletes from all over the world. This is the 22nd iteration of the games and offers the chance for Birmingham to be seen by people all over the world throughout the event. Hosting the games will also give Birmingham’s already growing economy a £1.5 billion boost, a study as revealed.
Birmingham is one of the UK’s fastest growing cities and shows no signs of slowing down, meaning this is the perfect time to invest! Have a look at our tenanted, income-generating properties today by clicking here.
