Vast Potential in the city
Over the last few years Birmingham has reinvented itself as one of the most vibrant cities in Europe. The regeneration of the Bull Ring, the new library (the biggest in Europe), the major redevelopment of New Street station, Eastside and Paradise Circus, the Resorts World Birmingham development by the airport, and the recently revealed Smithfield regeneration scheme are all putting Birmingham in front of mind for buy-to-let investors who are starting to see the vast potential in the city.
Birmingham is now in the top 10 list of European cities for buy-to-let property investment and has recently appeared in the Rough Guide as one of the top 10 World cities for 2015. This transformation has been well reported right across the UK media, changing perceptions of the city and raising the profile of Birmingham amongst the property investment community.
Hot property market
With lower property costs than London, a great reputation for business start-ups and innovation, the potential game-changing arrival of HS2 in 2026 and excellent transport and communication links, it’s little wonder that serious buy-to-let property investors are now viewing Birmingham as one of the UK’s hottest property markets for investments.
Major players in the city
There is no doubt that the high prices that London commands is driving investors elsewhere to look for more lucrative opportunities but there is more to it than that. When major players such as HSBC and Deutsche Bank decide to move big parts of their operation to the city, other blue chip companies and top brands start to sit up and take notice of what Birmingham can offer.
Lower cost of living
With the city being only 100 miles outside of London but with a cost of living that is significantly lower, there is little wonder that major companies are now looking outside of the capital to set up. It’s cheaper to live, shop, eat and drink in Birmingham and this is drawing people to the city in droves.
Impressive new business start-ups
Birmingham also has one of the youngest, diverse and highly qualified workforces in the UK which is obviously very attractive to employers. New business start-ups are also impressive in the city with over 19,000 new businesses being set up in 2014.
Compelling opportunity for buy-to-let investors
The fact is that London has become too competitive for many investors. The huge price tags on properties and low yields are making investors from both home and overseas to look elsewhere, particularly in regional centres such as Birmingham. Birmingham is seen as a city that is leaving the recession behind and is confident about its future prosperity. That’s a compelling opportunity for buy-to-let investors.
The Renaissance Of Birmingham
According to recent figures from the Office of National Statistics, nearly 60,000 people aged 30 pus have left London in the last 12 months and moved north, with their favourite destination being Birmingham!
The old Birmingham image of crumbling and out-dated architecture, infuriating ring roads and ugly shopping centres is being replaced by new landmark buildings, exciting infrastructure projects and trendy city centre living spaces. This renaissance of Birmingham has contributed to the sudden increase in Londoners moving to the city..
Attracted by its cheaper property prices, fashionable city centre residences, lower cost of living, easier commuting and the emergence of new hi-tech industries, Londoners are gravitating towards Birmingham to enjoy a better quality of life, to bring up a family and to have a better work/life balance.
There are some fantastic buy-to-let property investment opportunities in Birmingham so contact us now to discuss your investment goals.