As the second-largest city in the UK, Birmingham has been undergoing a huge economic and cultural renaissance over the past few years. This has been fuelled by the arrival of the new high-speed rail link, HS2, to London, bringing with it a £105 billion injection into the local economy. On top of this, the city is seeing huge inwards international investment by overseas investors, with a massive surge in property investment over the past five years.
2023 is set to be an even bigger year for the city, with huge potential for foreign investors to capitalise on the vast opportunities available.
Here’s 10 Reasons Why We Love Birmingham for Properrty Investment because:1. HS2 – High Speed RailIt’s no secret that the new HS2 rail link to London is having a huge impact on the city. With journey times from Birmingham to London now at just 45 minutes, it has made the city even more attractive for investors. In addition to this, the vast economic injection of £105 billion into the local economy has seen a surge in property prices and growth, with more and more people looking to Birmingham for property investment.
The arrival of HS2 has also had a positive effect on the city’s cultural landscape. With the journey time to London now so short, it has opened up a whole new world of opportunities for businesses and investors. This has seen a huge influx of young professionals, entrepreneurs and creatives, helping to drive the city’s economy and culture forward.
2. Huge International Inwards InvestmentBirmingham for property investment has been a popular destination for overseas investors for a number of years now. The city’s property market has been a particular draw, with the city seeing a huge surge in investment over the past five years. This has been driven by the arrival of HS2, with the fast transport links to London proving to be a major draw for non-resident property investors.
With the city set to continue to grow in 2023, there are plenty of opportunities for overseas investors to capitalise on. With property prices still relatively low compared to other major UK cities and a huge demand for rental properties, Birmingham is an ideal choice for non-resident investors looking to get into the property market.
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3. Biggest Wage Growth of any Major CityBirmingham’s growth over the past few years has seen a surge in wages, with the city seeing the biggest wage growth of any major city over the past five years. This has been driven by the arrival of HS2 and the huge injection of money into the city, with businesses now able to access a larger pool of talent.
This, coupled with low living costs, has also helped to attract more young professionals and entrepreneurs to the city. This has in turn helped to drive up wages, with the average wage now at £34,000. This makes Birmingham for property investment an ideal destination for overseas investors looking to capitalise on the city’s growth and the potential for higher returns on their investments.
4. Big City PlanThe Big City Plan is a long-term vision for the city, with the aim of transforming it into a world-class 21st-century city. This includes plans for a 25% expansion of the city centre, with the aim of creating a vibrant and attractive city centre for businesses and residents alike.
The plan also includes a focus on sustainability, with the aim of making the city more energy-efficient and reducing its carbon footprint. This has been welcomed by non-resident investors, with the plan giving them the confidence to invest in the city, safe in the knowledge that it is a place that is investing in its future.
5. 6% Growth Predicted in RentsIn addition to the Big City Plan, the city is also seeing a surge in rental demand. This has been fuelled by the huge influx of young professionals and students to the city, with the average rental price now at £848.
This is only set to increase over the next year, with JLL predicting a 6% growth in rents. This makes Birmingham for property investment an ideal investment destination for non-resident investors looking to capitalise on the city’s rental market. With the city’s population set to grow even further in 2023, this is a trend that looks set to continue.
6. Biggest Migration from LondonBirmingham has seen the biggest migration from London of any major UK city over the past five years. This has been driven by the arrival of HS2 and the surge in wages, with many Londoners now looking to Birmingham for property investment and for a better quality of life.
This has been a major draw for overseas investors, with the influx of young professionals helping to drive up property prices and create a more vibrant and attractive city. Birmingham for property investment is now seen as an attractive alternative to London, with many non-resident investors now looking to the city as a safer and more stable investment option.
7. Youngest Average PopulationBirmingham is now the youngest major city in the UK, with an average population of 1.3 million people under the age of 25. This has been driven by the influx of young professionals and students to the city, with the city now seen as a more attractive and affordable alternative to London.
This has been welcomed by overseas investors, with the young population helping to drive up rental demand and property prices. This makes Birmingham an ideal destination for non-resident investors looking to capitalise on the city’s growing population and the potential for higher returns on their investments.
8. 5 UniversitiesBirmingham is now home to five universities, with a combined student population of over 80,000. This has helped to drive up rental demand, with the city now seen as an attractive destination for students looking for an affordable and vibrant place to live.
The city has also been successful in retaining its graduates, with around 50% of graduates now choosing to stay in the city. This has been a major draw for overseas investors, with the influx of young professionals helping to drive up property prices and create a more vibrant and attractive city.
9. Big Pool of TalentThe influx of young professionals to the city has also had a positive impact on the city’s economy, with many major companies now looking to Birmingham for their new head offices. This has been fuelled by the city’s ever-growing talent pool, with the city now seen as an attractive destination for graduates looking for work.
This has been a major draw for non-residents to look at Birmingham for property investment, with the big pool of talent helping to drive up property prices and create a more attractive and vibrant city. With so many new businesses now looking to the city for their new head offices, Birmingham is an ideal investment destination for overseas investors looking to capitalise on the city’s growth.
10. Second Highest Number of Michelin Star RestaurantsBirmingham is now home to the second-highest number of Michelin star restaurants in the UK, with the city’s burgeoning food scene now attracting visitors from all over the world. This has been welcomed by non-resident investors, with the city now seen as an attractive destination for tourists and visitors.
This has helped to drive up property prices and create a more vibrant and attractive city, with many overseas investors now looking to Birmingham as an ideal investment destination. With its booming food scene, vibrant culture and huge potential for growth, Birmingham is an excellent choice for non-resident investors in 2023.
With so much happening in Birmingham across every field 2023 is likely to be a continued big year for property investors here. From the arrival of HS2 to the influx of young professionals to the city, there are plenty of opportunities for non-resident investors to capitalise on in 2023. With its booming economy, vibrant culture and huge potential for growth, Birmingham is an excellent choice for overseas investors in 2023.
Is Birmingham For Property Investment On Your Radar for 2023? If you’re interested then chat with the team and take a serious look the cash flows on our range of developments in the centre and surrounds of Birmingham. Call the team on 02079236100
