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Birmingham is known as the UK’s ‘Second City’ is on par with London for culture, leisure and business but has exceeded the capital in recent years for house price growth. The city is part of the booming West Midlands authority, which boasts 23% GVA growth and has one of the fastest growing economies in the country.
Investment into the UK Build to Rent market hit £959.8 million in the second quarter of 2023, taking year to date investment for H1 to just over £2billion, 7% ahead of the £1.9 billion transacted at the same point last year.
Activity has been concentrated on regional markets in the first half of 2023, with deals outside of London accounting for 90% of total spend. Regional activity has been led by Birmingham, Belfast & Leeds. This represents a sharp reversal of the longer-term trend, with London having accounted for 38% of total spend between 2020 and 2022. The reduction in deal volumes so far this year in the capital represents fewer opportunities being marketed, as well as the relative tightness of yields.
A key driver of our focus on Briminghams investment landscape is the cities future growth potential and the upgrade of UK’s national rail network. High Speed 3 (HS2) will bring London within 38 minutes and significantly cut journey times to Edinburgh, Newcastle and Manchester. The city is home to HS2’s construction headquarters, so between phase 1 which starts later this yeat and project completion in 2033, over 1500 jobs will be created in the city.
Contact us for more information on Planning Gain Opportunities that are Shariah Compliant Investments. We currently have over 20 live development projects in progress in the UK with sites already secured.