Billions of pounds have been invested into Birmingham City for new commercial spaces, residential homes, retail outlets and office spaces. There high end developments are reflected in Birmingham’s property prices.
Potential investors have been asking themselves and their local agents, “Will the prices continue to rise?” The answer to this is most likely going to be yes. The ongoing developments currently in Birmingham are predicted to increase the prices to a never seen before level. This means that investors who own properties in Birmingham today can be making a profit in the future.
Here are 5 reasons why you should invest in a property in Birmingham;
1. De-Risking Investments Ahead of Brexit
London has been the investment hub of the UK, however over cities such as Birmingham recently been right behind London’s rapid growth. This is due to the pending Brexit. Investors are shifting a portion of the portfolio away from London in an attempt to diversify and mitigate risks. Although many experts have concluded that London will still remain a viable place for investments, the wise course of action is it spread potential investments across different cities.
2. Commonwealth Games 2022
Birmingham is set to play host to the Commonwealth Games in 2022. The commonwealth games attracts thousands of individuals and businesses each year it takes place which enhances Birmingham global appeal. It is expected that the games will generate £750 million to the economy, making room for further developments in progress such as businesses, housing and leisure. With the Commonwealth Games, will help increase employment rates and new jobs may become available.
3. High Speed Rail Network
Birmingham is positioned in the heart of the UK, between London and Manchester. Currently they are reachable within 4 hours or less by road, rail or air. The High Speed Network or HS2 is set to complete in 2026 and this is a high speed train line connection Birmingham to London and Manchester within 45 minutes. This is a key element in attracting new businesses to Birmingham which will therefore fuel the cities for a lifetime of economic success. The HS2 is expected to bring in an additional 50,000 jobs, which will increase the need for housing.
4. UK’s 2nd Most Enterprising City
Birmingham’s young and hungry workforce is the catalyst for the city’s emergence as a business hotspot. Since 2016, close to 18,000 new businesses started up in the city, 2nd only to London as many Londoners are choosing to relocate to Birmingham instead. Last year, over 7,600 people make this very move. Young professionals get to enjoy a lower cost of living in Birmingham, without compromising on employment opportunities. This creates a perfect storm for tenant demand, which will greatly benefit owners of Birmingham property.
5. Affordable Property Investment Options
Currently the average prices in Birmingham is currently £207,517, being £20,000 less than Manchester and £280,000 less than London. Due to the regeneration projects taking place in Birmingham, the prices will definitely increase over time earning investors with a profit.
**LATEST DEVELOPMENT NEWS**
Fraser & Co are excited to announce that we are launching Westminster Works this Autumn. It is a stunning collection o2 220 contemporary one and two bedroom apartments set around a central courtyard starting from just £180,000.
For more information on this development please get in contact with our New Developments specialists on:
E: newhomes@fraser.uk.com
T: 020 7723 1284
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