Birmingham is booming and attracting investment on a global scale. A PwC report in 2016 cited Birmingham as the UK’s best city for investment property prospects and 6th in Europe – London didn’t even make the top 10.
1. HS2 is coming
The 2012 approval of the high-speed network linking north and south will reduce the current journey time to London by almost half, giving a very commutable journey time of 49 minutes. That’s quicker than most current commutes from outer London.
2. The HSBC effect
The relocation of HSBC’s headquarters to Birmingham from London has definitely had an impact on the city. The bank will house 1,000 key staff there, resulting in both staff relocation from the capital and job creation for Birmingham.
3. Booming property market
Rising demand from those relocating from London plus the large student population continue to drive demand. But property is still affordable giving the opportunity for high yields and good quality HMOs are in high demand.
4. The Big City Plan
The 20 year vision for Birmingham’s city centre, managed by Business Birmingham, is an inspiring, transformational plan which will see an estimated £10bn of investment potential. Part of this transformation is the Smithfield Regeneration Project which will add more than 3,000 jobs to the city and Paradise Birmingham creating an estimated 12,000 jobs. The investment will be for both regeneration and infrastructure, including a huge new enterprise zone for the city.
5. Commonwealth Games
Birmingham will host the Commonwealth Games in 2022, which will boost the West Midlands economy by an estimated £750 million. The Games will highlight Birmingham on the world stage, further strengthen the local economy and provide new investment opportunities.
Recent investment in retail centres such as Grand Central and £500m worth of recent improvements to the Mailbox mean that the city is serious about shopping. As the only city outside London to host a Harvey Nichols, John Lewis and Selfridges it is focused on driving increased retail spending.
7. Young graduate talent
Many graduates move to Birmingham from other cities, joining graduates schemes. With the youngest city demographic in Europe, home of five universities and home to 65,000 students, there is a wealth of new talent right on the doorstep.
8. Transport links
With the recently completed rejuvenation of New Street Station and addition of Grand Central, Birmingham offers great transport links into the city and around the city centre.
9. New business
With big businesses like HSBC making the move from London to Birmingham, the Government has become highly supportive of SME business and startups moving into the city. With support from Government lead programs and more affordable office space, Birmingham poses a very attractive alternative to new business.
10. Expert property advice
With Birmingham quickly becoming a hotbed for property investment, it’s important for any potential investor to receive expert advice from a company who has deep roots in the Birmingham property market such as Prosperity Wealth. Having a great investment opportunities in central locations in West Midlands and Birmingham helps Prosperity Wealth to have a great knowledge of the region.
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