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Please contact our Marketing Director
Alasdair Walker:
alasdair@thirlmeredeacon.com
Email: info@thirlmeredeacon.com
Call:+44 (0) 2039507939
Registered Office:
4th Floor,
7/10 Chandos Street
Cavendish Square
London, England
W1G 9DQ
Lansdowne House, Berkeley Square,
Mayfair, London, W1J 6ER
+44 (0) 2039507939 info@thirlmeredeacon.com
Floor 30, Oberoi Business Centre,
Business Bay, Dubai, United Arab Emirates
+971 (0) 4 818 7277 dubai@thirlmeredeacon.com
Often referred to as the UK’s second city, Birmingham has the largest economy and greatest population of any urban city area in the country after London. Due to its position in the centre of England, the city is naturally very well connected and ideal logistically.
City-wide regeneration projects spreading across commercial, retail and residential sectors, together with improvements to infrastructure, a rising population and an established flourishing economy point to exceptional capital growth and a continued rise in tenant demand.
Around half a million people work in Birmingham and these numbers continue growing as the economy strengthens. The city is also recorded to have one of the youngest populations in Europe with around 40% of Birmingham’s population aged under 25 and the population is growing – set to reach 1.3million by 2039.
As with economies across the world, COVID-19 has had an impact but the local property market has remained strong, having experienced price growth throughout the pandemic.
“The outlook for Birmingham is extremely positive. Development activity has remained below demand levels for some time, which has created fierce competition for new homes in the city.” – JLL
Birmingham is not only the UK’s largest city outside London but also one of the country’s biggest financial centres. Firms such as Deutsche Bank and HSBC have large bases of operation in the city. The diversity of the city’s economy is supported by its reputation as a hub for the creative industry and thought of as one of the UK’s faster growing centres for digital media.
There is a wealth of opportunities for companies seeking to expand or invest in Birmingham. The city has exceptional connections to local, national and international destinations. It lies at the heart of the UK’s road network and boasts an international airport. The proposed HS2 rail link will cut travel time between Birmingham and London to less than 50 minutes.
The city is also one of the UK’s top shopping destinations with many new developments centred around retail and the city centre almost entirely transformed over the past decade. Birmingham has a renowned restaurant scene and vibrant nightlife, there are museums, culture centres, regular markets and multiple leisure facilities across the city – it’s of little wonder it’s such a popular place to live.
Birmingham is home to 5 universities, with around 80,000 students studying each year, many of whom choose to remain in the city due to the job opportunities on offer, and the vibrant lifestyle, further adding to the demand for quality rental accommodation.
The reasons many choose to live in Birmingham are clear and for investors the financial prospects are good. The entry price point for many off plan options in Birmingham and the surrounding areas are far lower than the national average. In fact, the average price of a property in Birmingham is around a third of the average price of a property in London.
Rental yields are another key consideration for investors and Birmingham has some of the strongest figures currently on offer in the UK. The average yield is around 6% but in certain areas yields of over 10% can be achieved.
To add to the appeal of Birmingham rental investment yields have demonstrated strong growth over recent years, with average yields have risen considerably in recent years and JLL predicts that rental yields across the West Midlands could rise by as much as 12% over the next five years.
Over the past 5 years, property prices in Birmingham have risen by over 20% (according to Zoopla) and the forecast for future capital appreciation is bright with the most recent Savills prediction citing 24% price growth for properties in the West Midlands by 2025 – the opportunity for capital appreciation in Birmingham is excellent.
Lansdowne House, Berkeley Square,
Mayfair, London, W1J 6ER
+44 (0) 2039507939 info@thirlmeredeacon.com
Floor 30, Oberoi Business Centre,
Business Bay, Dubai, United Arab Emirates
+971 (0) 4 818 7277 dubai@thirlmeredeacon.com
