Why Birmingham is top of the list of best places to invest in property UK
When you’re researching locations to find the best places to invest in property UK, you really want to find an area where all the property fundamentals are strongest. You’ll be looking at factors such as shops, schools, transport links, major employers and major investment. You’ll want to have evidence that where you are investing has a promising future, backed by a strong local economy and a growing population.
When we conduct our property investment research, we examine 108 data points across 324 areas in the UK. It’s in-depth questioning that puts locations under the microscope. This process produces reports of property investment opportunities that run to around 30 pages. It’s the background information and detail that confirms the value of investing in a specific property, on a specific development, in a specific location, in a specific area.
Our research indicates that Birmingham is one of the best places to invest in property UK today. Here are eight reasons why.
1. Birmingham has the strongest local economy outside London
Birmingham is a big local economy which is growing at a tremendous pace. According to the ONS, the city’s economy has grown by 19.2% in the last five years. And the prospects are sparkling. Billions are pouring in from foreign investors, as they anticipate the transformative effect that HS2 could have on the region.
2. Foreign investment is creating thousands of jobs
The Department for International Trade has recognised the West Midlands as one of the most attractive areas for foreign direct investment (FDI). In 2016/17, there were 151 FDIs made, and these created more than 6,500 jobs.
Businesses are relocating here at quite a pace. Channel 4 is moving here. HSBC and HMRC, too. Deutsche Bank is expanding here. Birmingham is a city with good and improving transport links and a highly educated workforce.
3. Birmingham is an outstanding city for education
It’s not only businesses that want to be located where education is good: so, too, do parents. Birmingham doesn’t disappoint. Birmingham’s schools have been awarded more outstanding ratings than any other regional city in the UK. But, of course, families, young professionals and retirees want more than great education for children.
4. If you want the quality of life, move to Birmingham
Every year, the Mercer Quality of Living Report ranks cities for the quality of life they offer. Mercer rates across a range of factors, including economic and educational factors, access to leisure amenities, green spaces and fresh air, as well as the cost of living.
It’s no surprise to us that in its 2018 report, Mercer ranked Birmingham at the top of all English cities when it comes to quality of life. It’s not surprising that people are migrating here from other parts of the UK (especially the capital).
5. Birmingham is the most popular destination for people leaving London
Hundreds of thousands of people are leaving London. The ONS internal migration statistics show that Birmingham is the number one choice for those leaving London to live somewhere else in the UK. Many of these are young professionals, disheartened at the cost of living in the capital.
6. Birmingham is the UK’s youngest and fastest-growing city
Birmingham’s population is the youngest of any major city in Europe. And, bolstered by the young professionals relocating here from London, Birmingham has the fastest-growing population in the UK. It’s also a place people want to visit.
7. The destination for international visitors
Visitor numbers to Birmingham are booming. No more so than the number of international visitors into the UK, which grew by a whopping 17% between 2014 and 2015. Now more than 1.1 million overseas visitors come to the city every year – and not only for the shopping, heritage, sport, and tourist attractions available.
8. A great place for business tourism and entrepreneurs
When it comes to business tourism, Birmingham is leading the pack outside of London. In 2016, according to the British Meetings & Events Industry Survey, Birmingham was more popular than Manchester, Edinburgh and Leeds as a destination for business tourists.
Birmingham is also the most entrepreneurial of all the UK’s regional cities, too. In 2016 alone, almost 17,500 businesses were started here.
Isn’t it time you invested in Birmingham property?
Businesses are investing heavily in Birmingham. Foreign businesses are doing likewise. Entrepreneurs are investing here. Central and local government is investing here, with huge infrastructure programmes like HS2. We think the time could be perfect for residential investment in Birmingham, to take advantage of a growing economy and rapidly expanding population.