Birmingham is one of the UK’s most vibrant cities, and it is no wonder that it has become such a popular location for property investment. With a growing population of over 1.4 million, Birmingham has become an appealing destination for young professionals, students, families. This level of demand is continually fueling Birmingham’s booming real estate market, making Birmingham Buy-to-Let properties some of the most sought-after assets in the country.
Reasons to invest in Birmingham
The HS2 is a high-speed rail link which will connect Birmingham to London and other major UK cities. The journey from London to Birmingham is set to be drastically shorter, with passengers able to enjoy an express train that will only take 50 minutes. This will create new jobs and encourage more people to relocate to Birmingham, boosting the local economy.
There are lots of new developments planned for Birmingham, including new shopping centres, green spaces, office buildings and residential complexes.
Additionally, the Birmingham Games 2022 will attract over 1 million spectators from around the world. The city has undergone a £9 billion regeneration project in preparation for the event and is set to become one of the most popular tourist destinations in the UK.
• Property price growth
This regeneration has had a positive impact on Birmingham’s property market, with prices rising by 5.8% in the last year alone. The average price of a home in Birmingham is now £236,628, which is still very affordable compared to other major cities in the UK. This growth is not slowing anytime soon – Savills forecasts that Birmingham will see a 24% property price growth by 2025.
• Rental Yields
Birmingham rental yields tend to be above average when compared with other cities across the UK, but they are also set to continue growing in the upcoming years. With average rents currently standing at £1188 per month. Birmingham boasts an impressive rental yield of 6.56%, which speaks to the demand for quality housing in this bustling metropolis.
If you’re thinking of investing in property in Birmingham, now is the time to do it. There can be no doubt that Birmingham is truly a city offering many opportunities when it comes to property investments. So if you’re looking for strong returns on your property investment, Birmingham is definitely a great place to start your search.