Birmingham Property Investment Guide
Birmingham is a key UK city that is rapidly attracting investors. As it increasingly establishes itself among the top areas in the country, rental demand is rising. The city is seeing an influx of businesses, professionals, and investors, as well as exponential growth in both the economy and population. Forecasts for the city’s future performance are extremely promising, making Birmingham a top choice for buy-to-let investors.
The average property price in Birmingham stands at £260,940. As such, a good Birmingham rental yield is usually above 5%, which is the minimum requirement to maintain costs. Rents have grown by 28% since 2009 and are set to grow by 10% over the next four years.
Birmingham’s rental market is also strong. Along with the high demand and affordability, Birmingham also has a rapidly rising population, expected to reach 1.24 million by 2030. With the increasing level of demand, the city is facing an undersupply of properties, naturally driving prices up.
Employment growth in Birmingham is extremely promising, with predictions of a surge of at least 17% by 2039 due to regeneration schemes, office space development projects, and accommodation extension plans. The city is now the UK’s second-largest business hub.