Development is the hot topic in Birmingham, just by taking a drive around the city it provides an insight into how much more there is to come, property investors are increasingly recognising the attractiveness of the region.
A recent report on residential pricing from Knight Frank stated in their uk-residential-market-update-january-2018
‘The underlying picture on pricing has changed, with average falls in pricing across Greater London (-0.5%) versus stronger growth in the West Midlands (5.2%). This is a reversal of the trend seen in recent years, where London has led from the front in terms of price growth.’
Birmingham is among a cluster of cities expected to see an upward trajectory in prices and investors are looking to secure the rewards.
The opening of Grand Central put Birmingham firmly in the spotlight and it certainly lives up to its name and sets the tone of what is to come for visitors to the city. This is just one of many high-profile projects, but it has a particularly significant impact as it provides an impressive new gateway into Birmingham.
Many businesses are being welcomed to the city, HSBC is in the process of moving its UK headquarters to Birmingham, and this is helping to drive growth in construction levels – the health of the city’s construction sector was recently underlined by figures from Deloitte showing how Birmingham is building offices at its highest rate in a decade.
And there are no signs of the city’s revival slowing down, especially with HS2 on the horizon. This is a major boost for the city, which will significantly enhance transportation links, as well as bringing jobs to the city and sparking further construction for the supporting infrastructure around HS2.
All eyes will be on growth rates for 2018 and how the UK’s regional cities perform against London.
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