Successful investment is dependent on timing. Knowing when to invest is just as important as knowing where to spend, and this is an issue that has plagued many investors and prevented people from achieving their property aims.
However, there are times when an opportunity arises that allows you to buy in the right place at the right time. Whether you are looking to buy a home to settle down, to create a base for your family or to generate short and long-term returns, now is an excellent time to invest in Birmingham.
We know that investing is a daunting prospect, but we are here to tell you why now is an excellent time to invest in Birmingham.
Birmingham is experiencing a period of active development. A casual look towards the sky in the city shows that there are many cranes working and development projects are taking place across the region. Birmingham has an excellent location for access to the entire country, and a range of developments and factors means that Birmingham is benefitting from significant investment in residential, retail and commercial development.
The fact that Birmingham is within reach of 90% of the population within four hours is an appealing one for many businesses. The HS2 development, creating a journey time of 49 minutes to London, is an obvious attraction in Birmingham’s new look, but a lot is going on.
There is an extension to the Midlands Metro service, further improving connectivity in and around the city, while significant work at Birmingham Smithfield and Arena Centre has captured the imagination. With Birmingham hosting the 2022 Commonwealth Games, there is an air of excitement in the city, but there is tangible change, leading up to and continuing from the Games.
Between 2015 and the start of 2019, property prices in Birmingham increased by 15% and current projections suggest there will be a further increase of 14% by 2020. The population of the city is also rising, and by 2039, it is expected that an additional 171,000 people will live in Birmingham, taking the city’s population to 1.3 million. With high demand for city centre living, residential development is increasing rapidly, making the heart of Birmingham an attractive proposition.
Another reason why Birmingham offers tremendous investment opportunities is that this is a young city. The current population of 1.1 million features 45% of people aged 30 years old or younger. There are close to 65,000 students studying at five Universities and two University colleges. This talent provides reasons for companies to set up base in the city, and Birmingham has the most robust economy in the country, outside of London.
Property investors find factors like a substantial student population, an opportunity for graduates to stay in the city and find employment and a youthful population key reasons to consider an area. Birmingham has a lot in its favour, but the people of the city are a massive factor in why you should invest here.
With Birmingham listed as the city with highest price growth in England for 2018 and property more affordable than Manchester, according to Rightmove, let alone the accessible nature of Birmingham prices compared with London, this is the right time to invest in Birmingham. If you would like to learn more about why Birmingham is the right city to invest in, contact Spot Blue, and we will be happy to assist you.