The Midlands were always punished by the attractivity of London, in terms of business creation. However, the coronavirus crisis changed the landscape, as many companies preferred to establish themselves outside the capital city. Birmingham is a location that has a lot to offer to families, but also for professionals. Here are a few reasons why a move to this city, this year, could be a great idea.
Birmingham Properties are a Great Investment
The first thing an investor will look at, when searching for a property, is return on cost. It depends on a large variety of factors, which seemed to all have turned to green, over the last few years, in Birmingham. First of all, you can find affordable houses in the city and the region as well, which enables those with smaller budgets to take part in the action.
Secondly, the demand by renters keeps increasing steadily. Finally, specialists all envision important growth to continue, which is key when you invest in a property, as the mid to long-term prospects are more important than the short term. And so, it is time to look at removal companies in the Midlands, as Birmingham is calling.
The Second Largest Economy in the UK
Birmingham was not born yesterday. It has been lurking behind London for a long time, in terms of size and economy. This said, they still can’t compare, as Birmingham houses 1.4 million people, while London stands at 10.5 million. But that is certainly to the benefit of the first one, in many regards. Living in London can become fastidious when you have to travel in public transport, as it is literally filled throughout the day.
As for Birmingham, the last decade has seen nothing but good news, economically speaking. Of course, the city was affected by the many issues that caused the COVID-19 crisis, but it disturbed all other UK towns as well. Its attractive power is easy to tell, as 40% of the population is below 25 years of age. That makes the city one of the youngest, in all of Europe. This is a crucial information that should entice all property investors to look into buying houses in the city. These young adults fuel the demand for apartments to rent. It makes it one of the most stable markets in the UK and in Europe.
To conclude this section, let us point to the fact that eight years ago only, Birmingham was voted most investible city in the UK. European investors, at the time, had the city ranked higher than other main agglomerations, such as Milan, London and Paris. And now, with the sanitary crisis that went through, the need to get away from these gigantic cities has only benefited Birmingham even more.
The Value of Properties keep rising
If you are looking at the last few years, you will notice that the price of houses in Birmingham has steadily increased. Right now, the market is a little up in the air, with an inflation level reaching heights that are not helping the realtors or those who look to buy properties. But it is the same everywhere in Europe, and as soon as the situation gets back to normal, it is predicted that prices will start rising again.
That is important for someone wanting to buy a house. If they are looking to move out, five or ten years down the road. They want their property to have gain in value, so they can leave with some profit, which will help them acquire their new and bigger house, somewhere else. In less than 15 years, properties in Birmingham have gained 45% of their original worth. That is to say that home owners have seen their house double in price.
Since the city also offers some of the most affordable prices around the country, it renders the mathematical equation easy for investors. As a comparison, in 2021, the average price of a house in Birmingham was £214,696, while in London you would have had to pay £653,965. No wonder the younger generation in the UK is flocking to this city. It is much more manageable in terms of the number of people living in it, while it still offers all that anyone could desire in terms of entertainment, night life and restaurants.
