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The following independent reports detail the reasons behind Birmingham and London commuter belt growth and the opportunities they present.
Population projections from the ONS suggest Birmingham will see organic population growth of 3.6% between 2015 and 2020, equating to 40,000 new residents over the next 5 years.
Birmingham is forecast to see a growth in households of 18,500
As the UK’s second city, Birmingham has much to offer
Wider Birmingham is the 8th most populous area in Europe, and as a city is only second behind London in the number of jobs it provides. This puts it above other UK cities such as Leeds, Glasgow and Manchester as a major centre of employment.
Over the last 20 years there has been significant investment into redevelopment and regeneration in Birmingham city centre and as such, it is now an increasingly vibrant place to live as well as work, with a strong employment industry and retail opportunities.
The Birmingham city centre residential market is vibrant. Recently marketed developments have sold well while there are a number of specialist rental schemes under construction. The young demographic profile has already helped expand demand for city centre living and with the business sector expanding and HS2 due, the outlook for Birmingham is brighter than it has been for some time.
Since Crossrail received the go-ahead, prices around its host stations have increased by 31% over the wider market, which exceeds our original estimates. As a result, we have revised our forecasts and we now calculate that property prices around Crossrail stations will increase by 3.3% per annum – over and above wider house price growth – until the full effect of Crossrail has been realised.
Birmingham has regenerated through a strategic effort to position itself as an international destination for investment and the UK’s top regional centre for conferences and exhibitions. Private sector employment in financial and professional services, tourism, leisure and retailing has risen rapidly over the last twenty years.
Birmingham has earned the number one spot for the best area for Millennials to live across Britain and has the dream blend of numerous employment opportunities, a healthy startup culture, strong student population and affordable amenities to enjoy.
Hometrack UK All City House Price Index 65 cities snapshot – June 2017
Nationwide analysed the effect on house prices of Crossrail stations outside of Greater London — and Slough came out on top.
Birmingham remains UK property hotspot, says European real estate report.
Birmingham maintains its position as one of the highest ranking UK cities for investment prospects in the 2018 Emerging Trends in Real Estate® Europe: Reshaping the future report – a forecast published jointly by PwC and the Urban Land Institute (ULI).
Birmingham is the most rapidly improving city in the country in which to live and work, according to a report, as Britain’s second city benefits from falling unemployment and a wave of regeneration projects.
Birmingham’s B16 area saw the fastest house price growth over the last year, with a rise of 17 per cent.
New data from Barclay’s Mortgages new Postcode Property Index revealed that the B16 area, which includes Ladywood, saw property prices rise to an average of £171,121 over the past 12 months. In contrast, London saw prices decline by 2 per cent.