New Development Further Strengthens Birmingham’s Status
Birmingham’s rapid growth and thriving economy mean it is rapidly becoming recognised as the UK’s second city.
Birmingham has won a growing reputation over the past few years as one of the most attractive propositions in the UK for both investors and residents alike, and is rapidly overtaking Manchester in the public consciousness as the UK’s second city.
Unlike other cities, including the capital, it seems to have survived and indeed thrived in the financial insecurity of the global recession and the EU referendum. This is due on no small part to the massive investment in infrastructure that has been poured into Birmingham’s Big City Plan to make it the single most up and coming destination for young professionals to live, and for multinational companies to set up base.
This also brings a world of opportunity for property investment in Birmingham, and the Southside development is just one example of the many construction and regeneration projects that are providing 50,000 new properties to keep up with the influx of new residents. The city’s population has increased by more than 10 per cent over the past ten years to over 1.1 million, and this growth shows no sign of slowing.
The Southside area has always been a popular location due to its close proximity to New Street Station and the City Centre, both of which are within easy walking distance. But over the past decade, it has undergone rejuvenation into the fashionable and distinctive quarter that we see today.
This has been brought about by a whole series of projects including the redeveloped Birmingham Hippodrome, the Arcadian Centre, the O2 Academy and the Birmingham Royal Ballet complex to name but a few. These have come alongside new hotels, bars and restaurants to create a vibrant and lively community, where there is always something to do by day and by night.
At the same time, we have seen significant improvements in travel infrastructure, most notably the £600 million redevelopment of New Street Station, which was completed in September 2015. Transport links will be further strengthened by the proposed HS2 rail link, which bring journey times between Birmingham and London down to an astonishing 49 minutes.
These factors combine to make Southside one of the most popular locations in the entire country to live, work, commute and socialise. They also spell a golden opportunity for those looking to make money in the buy to let market.
Southside – The Perfect Investment Opportunity
The Southside development was constructed to provide mixed use residential and commercial facilities for the growing local community, and has proved to be enormously popular with investors due to fantastic net yields in the region of 5.5 per cent.
A variety of properties are available, starting at around £155,000 and with demand outstripping supply in the rental market, there has never been a better time to buy.
Property prices across Birmingham have seen an average increase of 22 per cent over the past five years, meaning that this sort of investment is quite literally better than money in the bank.
A growing professional population, a healthy local economy and an ongoing multi-billion-pound investment programme – Birmingham Southside has everything an investor could wish for.