The Commonwealth Games may be over, but the buzz around Birmingham is set to last.
Birmingham is poised to transform from an overlooked relocation option to the next hotspot for those seeking better-value homes and a more relaxed lifestyle. Thanks to the Commonwealth Games, HS2, and big investment in Birmingham, those currently living in London are realizing that they can get more for their money in Birmingham without sacrificing the charm of city life.
How did the Commonwealth Games invest in Birmingham?
The Commonwealth Games have kick-started massive city center regeneration that has brought Birmingham to life. It lit a spark that’s always been there. It was a chance to show off everything that Birmingham has to offer to the rest of the UK and the world for both investments, buy-to-let opportunities, and property development in Birmingham. The Business and Tourism Program (BATP) will leverage the profits made from the Games to invest back into Birmingham focusing on areas including:
- Future Mobility
- Data-Driven Healthcare
- Creative Technologies
- Modern Business Services
- Sports economy
The £778m public investment will leave a legacy in Birmingham. From a brand-new aquatics center in Sandwell to the redevelopment of Alexander Stadium, there have been major transformations that will attract people, investors, and businesses to the region. With all of this going on, there’s set to be an increase in demand for buy-to-let properties in Birmingham.
This boost of investment in facilities, global brand and transport will hopefully attract more major events to the region and drive long-term economic benefits. As a result, it will encourage people and businesses to invest in Birmingham property now and in the future.
HS2 is on the Horizon
As well as the Commonwealth Games, the HS2 high-speed railway project is well underway and brings with it interest and investment to Birmingham. Phase one of the project will connect London to Birmingham, providing a quick and reliable transport link between the cities. Although it is not set to be completed until around 2033, Londoners are considering making the move now and commuting or working from home.
Birmingham has more to shout about
Individuals, families and businesses are choosing to move out of London or bypass the capital altogether and come straight to Birmingham because it has so much to offer. Birmingham is home to more international companies than any other city outside of London and the Games will only bring in more interest from businesses and investors. HSBC, Gymshark, and KPMG all have headquarters here. The Games have brought the great transport links, shopping centers, restaurants, and entertainment venues to the attention of not only the athletes but everyone who has visited the city to work at or enjoy the Commonwealth Games.
Some Londoners are taking the plunge and moving to the affectionately nicknamed ‘Venice of the North’. With the cost of living rising, moving to, or investing in Birmingham is becoming an easy decision for many. Birmingham offers much lower house prices than those in the capital. According to Rightmove, the average house price in Birmingham in 2021 was £229,820, compared to £696,519 in London.
Where to Invest in Birmingham
Right now, property in Birmingham is the dealers’ choice. There’s property available to suit all budgets and financial goals. Now is a great time to invest in Birmingham, you could see a great return on your investment in Birmingham in the coming years as Birmingham continues to make its mark as an economic and social metropolis.
Here are some details on popular areas to invest in Birmingham:
Average house prices in 2021: £212,390
With lots of independent shops and restaurants, the jewelery quarter is becoming a trendy place to live. As one of the oldest districts in the city, it has plenty of charm and a great community feel. It has become a hotspot for property development in Birmingham.
Average house prices in 2021: £186,023
Digbeth was rated one of the best places to live in the Midlands thanks to its great schools, green spaces, and entertainment venues. With an average monthly rental cost of £750 pcm, it’s affordable too.
Average house prices in 2021: £311,220
Harborne sits at the higher end of the suburban Birmingham scale and keeps a village-like feel despite being so close to the city center. It’s a popular area for families and commuters who want to live away from the city center.
Average house prices in 2021: £333,174
Edgbaston is just 10 minutes from the city center but is a peaceful and quiet retreat. Home to Birmingham Botanical Gardens and one of England’s most famous cricket grounds, Edgbaston is an affluent area with lots to offer.
Average house prices in 2021: £210,223
You can be living or investing in the center of Birmingham for less than you think. The buzz of Birmingham is on your doorstep. There are plenty of new developments in Birmingham and it’s also a popular area for students, so you could get a great return on buy-to-let student accommodation properties.
You can read more about the best places to invest in Birmingham on our blog. If you are interested in investing in Birmingham property, we have some great places available right now. We have various buy-to-let and property investment opportunities in Birmingham as well as exciting projects for the future. To discover more and start your Birmingham property investment journey with us, get in touch with our expert team today.