Big City Plan is a 20-year vision that’s set to encourage and support the transformation of Birmingham to add to the world class reputation they currently hold. The plan is to develop new residential communities and offer support in the diverse community, by maintaining and enhancing its unique character. Improving the transportation links was key due to Birmingham’s New Street station being the busiest rail interchange outside of London. It has been made three and a half times bigger than before to make it as easy and enjoyable experience for the passengers.
The cities considerable growth, coupled with the ambitious plans for future development have resulted in a growing demand for rental accommodation in the city in rcent years. Understandly, this has led to increased numbers of investors looking to purchase buy to let apartments in Birmingham city centre and the surrounding suburbs such as Edgbaston and Bourneville.
Birmingham has been classed as Britain’s most populated city outside of London. Recent years has shown a rapid growth in the population, with 1.1 million people now taking home there. This is a knock on effect of Birmingham having three major universities (University of Birmingham, Birmingham City University and Aston University) that contain 66,000 full time students dispersed across all three. The major undersupply of student accommodation in the city of Birmingham has resulted in 40,000 students not gaining the access they need. Through an extraordinary positive rental growth every year, student accommodation in Birmingham has become a thriving industry and a flourishing market to enter.
With food at the core of what Birmingham does best, it is home to many various bars and restaurants so people are able to spend a divine night out on the town. Those who wish to shop the day away can visit the amazing Bullring shopping centre or simply enjoy the cultural attractions.
Universities within the UK globally have a reputation which attracts an international appeal. As a result of this, in 2015 there was a record number of applicants apply to commute to the UK and take home. From which Birmingham has been alleged to be the largest centre for high education in the UK outside of London. This means students are now looking beyond figures, as they start to demand something with an ingenious design to allow social groups to configure and bond. Birmingham, as a city, offers services that create a wider social interaction through various events and private activities that students can partake in to enhance their experience.
If you liked the sound of what Birmingham has to offer, why not take a look at our portfolio of student accommodation investment opportunities both in and around Birmingham.
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