Birmingham – The Ripple Effect on Property.
Birmingham’s population is growing every year, but what does this mean for its property prices?
Birmingham City Centre
Birmingham is the second largest city in the UK and one of the country’s most important industrial centres. Its city centre is being transformed by a number of regeneration projects, evident from all the cranes building new office blocks, commercial and residential buildings.
In the last couple of years the increase of people living in the city centre and high-paid office jobs has led to the opening of numerous cafes, restaurants, bars and recreational facilities. These amenities make living in the city centre even more appealing.
Birmingham Population Growth
Between 2002 and 2015 the city centre population of Birmingham grew by 162%. This data, from the Office for National Statistics, showed that the population of Birmingham grew seven times faster than London for this period.
Growth in the central part of Birmingham is mainly driven by young people. Many students from the five universities in the city stay in Birmingham after their graduation finding a job and renting a city centre apartment. Even though some cities struggle to attract high-skilled jobs and students, Birmingham continues to grow.
Birmingham provides jobs which attract young professionals. Three-quarters of these professionals are renting flats and apartments in the city centre.
The Ripple Effect on Property
The trend in population growth is expected to reflect in raising property prices and rental values for the city. According to a recent Knight Frank report, the price per square foot in Birmingham will grow from £400 per square foot to £500 per square foot by 2020.
Our Birmingham developments from our reputable developer is currently offering an average price of £350 per square foot for its Birmingham developments. To find out more about the properties available click here.
WHY BIRMINGHAM RESIDENTIAL BUY TO LET PROPERTY?
New homes and conversions of existing period buildings, water front and city centre locations. Ideal for a first time purchase or for buy-to-let purposes
- Projected/Assured NET INCOME of 5% – 7%
- Key Locations in Birmingham, Manchester, Liverpool and other key locations
- From EXPERIENCED development and management companies
- Water Front and City Centre Locations
- Prices of Units from £70,000
- Multiple Exit Strategies
- Mortgage or Cash Purchase Opportunities
CONTACT US @ SELECT ESTATE
For more information, up to date availability and a brochure on Birmingham buy to let, Contact Us:
- Complete the form at the bottom of this page so we can call or email you back
- Feel free to call on 0203 697 2591 from the UK or 0044 203 697 2591 from Outside UK
We look forward to assisting with any further enquiries that you have about a property or we can match developments individually to suit a particular criteria that you may have in mind
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Disclaimer: The information contained within these details and/or marketing images and floor plans are intended as a general guide. This information does not constitute an offer or a contract and we (or anyone in our company) do not imply, make or give any representation, guarantee or warranty whatsoever relating to the terms contained within. Any intending purchaser must satisfy themselves as to the correctness of any of the statements, plans or images contained within. Images are for representational purposes only. The content contained within is correct adhering to the previous statement at the time of publishing.