Published: 12 February 2018
Birmingham is now Britain’s second-largest student city, with universities attracting students from across the globe all looking for property to rent.
The central location of the city and vast choice of universities makes it one of the most popular destinations for students. With learners flocking to the UK’s second city, property investors are not far behind, as the investment opportunities are seemingly endless.
Birmingham boasts as many as five universities, namely the University of Birmingham, Aston University, Birmingham City University, Newman University and University College Birmingham. Two of these in particular enjoy strong rankings, making them extremely popular with students looking to further their education. The quality of education on offer in Birmingham can be seen by the 2014 ‘University of the Year’ title being awarded to the University of Birmingham.
Birmingham City University also offers five Centres of Research Excellence which have proved to be a massive draw for students. The choice for learners in Birmingham is one of the major reasons that many put it at the top of their list of places to study.
Whilst these universities are located within the city, a further 20 can be found in touching distance of Greater Birmingham. This makes Birmingham a strong educational centre and also goes on to produce a vast pool of skilled potential employees for businesses to choose from.
There is a lot that goes into making a university popular, and it is about much more than good results. Birmingham’s multicultural background and vibrant social scene play a large part in this, as do the city’s top level football and cricket clubs. The Birmingham Symphony Hall and the so-called ‘Balti triangle’ sit comfortably within the same city in a show of diversity and cosmopolitan culture.
Student numbers across the country have been growing steadily for some time, and this can be seen clearly in Birmingham. It is believed that Birmingham’s university student population is in the region of 65,000, making it Britain’s biggest student population outside of London.
A shortage of student housing is a nationwide problem, and this is clear in areas such as Birmingham, that have proved to be so popular. The expectations for student property have also changed, with the focus now being on high-quality and purpose-built accommodation. For investors, this means there is a great opportunity to offer good-quality property to a thriving market. The massive shortfall of property numbers compared to students makes comfortable student property easy to rent in today’s market, with profitable yields to be had.
It is important to remember that the strength of Birmingham’s universities does not just impact on the student population, they are also great employers. There is a huge workforce involved in the everyday running of such educational centres including teachers and professors.
Overall, it is clear to see that Birmingham’s popularity shows no signs of dissipating, and so landlords can make confident investments when it comes to catering for the needs of a vast student population.