Before I go into detail here are a few quick facts about the city that may open your mind to why people are wanting to invest in this west midland city.
1. Birmingham attracts 34 million visitors a year, almost 1 million of these are international visitors.
2. The New York Times once placed Birmingham in their top 20 places to visit.
3. The city is one of the youngest cities in Europe with almost 40% of its population being under 25 years of age.
4. It is also home to five universities and over 73,000 students. The perfect conditions for a buzzing nightlife!
5. Birmingham Airport is the third biggest in the UK.
6. 90% of the UK is within 4 hours of Birmingham
These already give you an insight into why this city is becoming a popular place for investors. Now the top reasons why Birmingham is hot spot for property investors in the UK…
1. Workers and businesses moving to the city
Many major businesses have made the move away from London to the city, more people are finding Birmingham a great place not only to work but investment opportunities. Professionals are able to still land competitive jobs and now have opportunity to save which is attracting young professional early in their careers. Also Investors can now invest in properties in great locations where major offices with more than 2,000 employees in Birmingham are working local. According to the reports, the average saving per employee for businesses relocating away from London is approximately £10,000 for the workerAlso approx 49% of graduates from the local universities stay on in the city, too. This is an important factor for developers and investors to acknowledge when considering the type of property that will be most in demand in the area i.e shared housing (HMO’s) and student accommodation.The focus is on long-term returns rather than short-term, factors like the HS2 which is a train line that will take people from Birmingham to London in less than an hour is due to be available in 2026.
2. Improving infrastructure
Birmingham New Street station is now the busiest train stations outside London, which means more and more people are coming through the city or coming to stay. Its popularity has grown since the expansion of the station and new business park. Continued investment in this network is important to maintain growth levels in the city and surrounding areas.It is also now quicker than ever to travel to and from London, and the new HS2 train line will further add to the city’s growing appeal as a major business location, reducing journey times to the capital to just 49 minutes.
3. High yields
The highest yields in the UK for buy-to-let landlords can currently be found in the North West region of the UK places like Liverpool has high yields. Birmingham is almost the same as the city has been able to capture the student market with more than 75,000 students in the area looking for affordable accommodation.This is the main reason why house prices continue to rise and a property investment in Birmingham is a goldmine.Along with discovering the best property investment strategy, any investor could discover Birmingham to be their most profitable investment area if execute properly.Square Property Group Is A Team Of HMO Management Specialists: Managing HMO and Single lets all around the West Midlands Area.