Key regional cities will provide strong investments that are backed against any potential Brexit losses in 2019. Most of the trends in these cities are driven by growing metropolitan hotspots primarily created by a shift in market needs. Younger populations are ‘sacrificing space for place’, preferring properties as close as possible to work, leisure and amenities. They are eschewing the previous generations want of large houses on the edges of city centres.
2019 property investment hotspots
Birmingham’s population has been rising steadily for the past five years and it shows no sign of stopping. By 2041 experts predict that the population will hit 1,313,300, an increase of 14.5% from todays figures of 1,147,300. Furthermore the city boasts a strong student population split across five university campuses, and out of any city in the UK has the 6th highest graduate retention rate. This means that Birmingham’s future looks brighter than ever with a huge future pipeline of talented employees. The past five years have seen property prices rise by 29.5%, on average a 6% growth per annum. With the forecast population growth the future looks bright for Brimingham.
This increase in city centre demand strengthens the growth in new build homes and developments in prime locations, and ensures high rental markets for far into the future.
With similar growth to Birmingham predicted Manchester is set to be a major investment hotspot. The population is set to rise by more than 14% over the next 23 years and prices are up over 30% in the last 5 years. Further IBM have already ranked Manchester as one of the top ten global areas for foreign investment in 2017, alongside the greater Manchester and Liverpool area.
Manchester also has the second highest graduate retention rate in the UK with over half of all of the 350,000 students remaining in the Greater Manchester area. Even big companies are starting to take notice, with the BBC moving to the Media City development in Salford Quays and Amazon announcing Ancoats as the site of its first Amazon Academy, providing events to help small local business.
The city is second only to London in terms of its graduate returners running at 58%, as well as its influx of graduates with no prior connection to the city. Amazon chose Manchester as the site of its first Amazon Academy, running a series of programmes and events designed to help hundreds of small, local businesses.
Creative young professionals will be sure to look to future residential developments in the city centre such as Ancoats Gardens, to immerse themselves in Manchester’s community.
Another city in the spotlight is Liverpool. By 2041 the population is set to grow by over 60,000 people, an increase of 12%, and with booming scientific, healthcare, service and knowledge sectors talented young professionals are arriving in droves. It is in fact the city is the fastest growing non capital in the EU. Furthermore a large proportion of Liverpools economy in under 30, 42% compares to the UK average of 37% providing clear signs of a strong rental economy.
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