One city that has been generating a lot of buzz in the investment world is Birmingham. Home to more than 1.1m people, Birmingham is the second-fastest growing UK city in 2018 and was voted the fastest improving place in the country to live and work at in a recent survey by PwC and Demos. That is no surprise with the High Speed 2 rail (“HS2”) due for completion in 2026 making London a mere 49 minutes away by train.
Propertywire has also found that the average rental yields for Birmingham-based homes range from 5.95% to an impressive 10.87%, depending on the size and location of the property. This is easily higher than UK’s average rental yield of 4.4%.
Here are 3 more reasons why Birmingham is the investment hotspot of 2019.
Unrivaled Location Outside Of London
Birmingham is one of the most well-connected cities in the UK. Outside of London, Birmingham New Street is the busiest station and is also the central hub of the British railway system due to its location in the midlands. It is also the sixth-busiest railway station in Great Britain by annual entries and exits. Commuters and professionals can travel from Birmingham to London, Liverpool or Manchester in less than 90 minutes. The arrival of the “High Speed 2“ (HS2) is expected to transform the city’s transport infrastructure, linking Birmingham to London in just 49 Minutes.
Culture and Entertainment Hub
Dubbed as the British centre of culture and sport, Birmingham is home to 2 of the country’s oldest professional football teams – Aston Villa FC and Birmingham City FC. It now looks to expand its prowess as the host of the 2022 Commonwealth Game. Aside from the sports scene, Birmingham is home to many art galleries and museums. For the foodies out there, there is a vast array of boutique cafés, award-winning restaurants and pubs catering to every budget and cuisine. Birmingham is truly a vibrant city with endless activities.
Londoners are moving to Birmingham for Job Opportunities
Elected most investable city in the UK by PwC (2016), Birmingham has been seeing more inward investment as compared to other UK regions. Birmingham is also Europe’s youngest city; out of the city’s current population of 1.1 million, 45.7% is estimated to be under the age of 30, including around 65,000 students across five universities and two university colleges. The vast pool of talent available in Birmingham has drawn major companies such as HSBC, Deutsche Bank and PwC to relocate their headquarter offices to the city. With more Londoners moving to Birmingham than ever, the demand for residential properties has never been higher. This has resulted in house prices rising by 7.5% in December 2017 and with the pressure for new homes on the rise, the rental market is expected to achieve above average yields especially for homes with higher specifications and better living space.
This has placed Birmingham as one of Europe’s most investable cities, outranking London and Manchester.
The Bank Tower II
In the heart of Birmingham City Centre, lies The Bank Tower II, a development that features apartments with luxurious finishes throughout, spacious layouts and breath-taking views.
No surprise, The Bank is set to be Birmingham’s most desirable place to live and with the development of the second tower that is expected to be completed in mid-2019, the Bank currently offers some of the best views across the lively city and picturesque canal network.
With enviable amenities such as access to a private gym, residents lounge and coffee bar, and the amount of independent and high street brands nearby, the Bank is set to be one of the most prestigious addresses in the city.
Located among everything, residents of The Bank Tower II stand to enjoy everything the city has to offer and with the Metro right at their doorstep, life at the Bank just couldn’t be more desirable.
RSVP for the upcoming preview of The Bank on 2 & 3 March 2019 in Singapore!