While London remains the UK’s property hotspot to overseas investors, the attractions further north in England are gaining increased attention amongst people that want to live in the UK and those investors otherwise priced out of the South looking for cheaper alternative property to the capital city. Here are the main reasons to invest in property in Birmingham and the Midlands.
There’s a reason why this area is called the Midlands
The Midlands are, basically, in the middle of England. This means that they are a convenient base for anyone who needs to access the whole of England rather than just the Thames Valley. Anyone who also needs to access Wales and/or Scotland will find their journey times noticeably trimmed by being somewhat further north. The journey between Birmingham and London already only takes about two hours (by train) and HS2 is set to halve this. If the government proceeds with the plan to extend HS2 further north, Birmingham and, by extension the whole of the Midlands, will become even more attractive than it is already. There’s also an extensive road network.
Regional airports make international transport straightforward
While it must be acknowledged that the UK’s air hub is likely to remain London, at least for the foreseeable future, the simple fact of the matter is that the regional airports in the Midlands already have regular and frequent flights to an extensive range of destinations, minimizing the need to travel to London simply to catch a plane.
The north of England is regenerating its economy
The 1980s were grim times for Birmingham and the Midlands, but since then the North has regenerated massively. There is still some traditional (heavy) industry and agriculture, but there is also a healthy sprinkling of more modern businesses, attracted by the lower cost of living (when compared to London) and excellent infrastructure. The fact that the Midlands contain excellent academic institutions from Universities to performing arts schools brings many benefits to the area. Young adults come as students and will often stay after their studies (or return after a spell elsewhere) due to the employment opportunities or the desire to start their own business at a lower cost than would be the case in London.
The Midlands is, quite simply, a great place to live
Even though none of the great northern cities can rival London in terms of size or population density, they contain many of the same attractions in terms of leisure facilities and have a significantly lower cost of living. Whether you’re a culture vulture, a clubber, a sports fan or just someone who likes to get out and about and explore the local area, there’s plenty to do in the Midlands. For those who prefer a quieter life, there are still quaint, rural cottages to be had at reasonable prices.
There is a huge amount of value in the Midlands, which is starting to be unlocked
The fact of the matter is that the Midlands has been steadily rebuilding itself for about 30 years, but it is only relatively recently that people outside the area and, in particular, property investors, have started to sit up and pay attention. This means that property prices are still very affordable compared to the Thames Valley area, which is great news for those looking for rental yield. The private rental market in this area is thriving, in particularly, it benefits from the many universities, of which Birmingham City, Nottingham and Coventry are probably the most famous. The tertiary education sector in Birmingham and the Midlands is growing all the time as students join the ranks of people realizing that they can enjoy a great lifestyle for a whole lot less than it would cost to live in London.
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