Birmingham and the West Midlands region are recognised as hubs for innovation and growth being recognised as a fast-growing business start-up sector which translates into job opportunities, population growth, and housing demands.
Businesses, seeking to capitalise on regional potential, find this area highly appealing. Notable companies such as National Express, Sainsbury’s, Lloyds Bank, and Jaguar have been drawn to this bustling economic landscape.
As the second-largest city in the UK, Birmingham’s thriving property market greatly benefits from its robust job market and numerous business prospects.
Birmingham’s working population has increased by 23% since 2000, registering 1.15 million residents as of 2023, and is forecast to reach more than 1.2 million (+4.5%) inhabitants by 2035.
House prices have also risen by 80% over the past 10 years and there are expectations for a further 35% growth over the next few years. Yet housing in Birmingham is still 34% more affordable than the UK average, making Birmingham an attractive option for buy-to-let investors looking for pockets of value.
Birmingham City Centre is continuously on the rise, thanks to its thriving economy due to job growth, business opportunities and foreign investment.
Birmingham’s economy has grown by 131% since the year 2000, totalling £37.6 billion as of 2023. It’s expected to expand by a further 53% to reach £57.4 billion by 2035. As the second-largest city in the UK, Birmingham’s vibrant economy is a significant factor contributing to its flourishing property market.
With significant investments from India, the US, and Germany, Birmingham has become the UK’s premier destination for foreign direct investment, generating more than 12,000 jobs in the past decade and ranking as the seventh most attractive UK city for investors.