In an annual report published by the Urban Land Institute and PwC, Birmingham was named the 6th most popular European city for property investment, surpassing London by four places.
You may be wondering why Birmingham is proving to be so popular in the property investment market, so we at Belvoir are going to explain to you the advantages that the great city has for those looking to invest.
One of the many advantages of Birmingham is its accessibility, both on a national and international scale.
Birmingham International Airport is expanding and offers thousands of domestic and international flights, including low-cost flights, to many destinations. Birmingham is also in close proximity to East Midlands Airport and Coventry Airport, making it a very attractive city for those travelling on business.
Birmingham also has great access to the national motorway network, directly connected to the M6 north, M1, M40 and M5 south-west motorways.
Birmingham New Street is a major station on the national rail network, and offers a variety of rail services to destinations all over the country. The HS2 development could also mean faster connections to London, with a journey estimated to last 42 minutes.
Strong Rental Market
The rental market in Birmingham is strong and reliable, with rental rates remaining reasonable for inner-city living due to the average property price remaining steady for investors. This means that properties have better occupancy rates and, as an investor, you will have a wider choice of tenants to choose from.
The average rental yield in the Nechells area of Birmingham is 10.6%, which is an excellent return for landlords and is substantially higher than the average yield in London.
Large and Consistent Student Market
Birmingham is highly desirable for property investors due to its large and consistent student market. With five universities on offer, Birmingham is the perfect city to purchase property for student lets, as this can be very profitable in the long term.
Birmingham is a highly desirable area for those looking to invest in property, and using the right letting agent will help you to make the most of this potential. If you are buying or renting a property in Birmingham, please contact Belvoir Birmingham today by calling 0121 212 0122.