Birmingham - The Place To Be
These are exciting times for Birmingham. While London does continue to economically thrive, there is nevertheless a growing appetite for major companies to relocate to Birmingham and for international/domestic property investors to invest in Birmingham property, of which there is currently a chronic under-supply which is already being addressed by major developments in different areas of the city.
Birmingham is perfectly placed for business, at the heart of the country's road network and with a major international airport with direct flights to over 100 worldwide destinations. The 'second city' has become an economic hub and businesses relocating there will have access to a highly skilled workforce and an exceptional pool of highly qualified graduates.
Both HSBC and Deutsche Bank have relocated their head offices to Birmingham.
The amount of developments either already started or planned for Birmingham is phenomenal. Headline developments are;
- £650m redevelopment of New Street Station
- HS2 Hub at Curzon Street (2026)
- Redevelopment of the Wholesale Markets area in Digbeth (Metro link to HS2)
- Redevelopment of 17 acre area at Paradise Circus drastically improving available office space in this area and creating thousands of jobs
- Leading developer Seven Capital leading the commercial to residential developments in locations like Hagley Road, Jewellery Quarter and Digbeth. This will help to increase property supply to the swathes of professionals who are relocating to Birmingham
- Birmingham has been identified as the best buy to let location in the UK with higher rental yields than elsewhere in the UK and considerable capital growth potential. Despite the weak economy after the 2008 recession, the laws of supply and demand have driven strong rental growth in the UK in the years since. The UK population growth only adds to this demand.
- The London property market whilst still booming has the potential to 'overheat' given current prices and overseas property investors are now turning their attention to cities like Birmingham, Liverpool and Manchester.
This is a good time to be working and living near to Birmingham !