Birmingham construction opportunities are redefining the city. Discover why so many construction companies are investing in the Birmingham property development market.
With an increasing population and one of the fastest-growing cities for job growth, Birmingham is on the rise as one of the best UK destinations to invest in property.
But knowing where to build and what building contractor to work within the UK’s second-largest city are crucial factors to consider to make the most of your Birmingham construction investment.
Today, we discuss why Birmingham construction possibilities provide the highest value for residential homes and commercial businesses in the UK and how you can support your investment with a reliable and honest property developer by your side.
Why Build in Birmingham?
Relative to its size, Birmingham offers the most affordable property market in the country, suitable for first-time buyers, property developers and businesses. So, whether you seek construction in Birmingham for commercial or residential purposes, the city can provide new development opportunities across the inner city or vast suburban areas.
But what makes it such a unique opportunity?
Let’s explore:
- A City in Demand
As anyone living in the city for the past few years will agree, the mood has shifted as the landscape has transformed.
The construction of Birmingham’s largest building, “The Octagon”, symbolises the city’s continual progression alongside other modern developments like the South-Central Tower on Essex Street, Cortland Broad Street and The Exchange Square 2 development.
Alongside a redefined cityscape, the recent influx of people moving to the city has caused the housing market to bustle with activity. In the past decade, average property values have risen in Birmingham by almost 40%, with 16% growth witnessed in the four years between 2016 and 2020.
In hosting the 2022 Commonwealth Games, Birmingham invested £788 million in public funding, with £594 million received from the central government. This colossal investment has prompted business incentives, improved transport links and infrastructure with more tourist and leisure attractions sprouting across the region.
Overall, Birmingham has been boosted into becoming one of the most liveable cities in the UK and continues to flourish, with more people and businesses looking to find a home and settle in this thriving, lucrative city.
- The Birmingham Construction “Gold Rush”
Described by Graham Young from Birmingham Mail as a “Gold Rush”, Birmingham continues to attract big property developers to invest in large commercial and residential complexes that now leave an imprint across the skyline.
But it’s not just high-rise central city construction in Birmingham that’s worth all the headlines. Residential and commercial properties across the numerous boroughs surrounding the city also offer property developers fruitful possibilities for investment.
So, with the property market selling land and houses under the national average in one of the UK’s most liveable cities, it’s no wonder Birmingham is a prime location for property development companies to invest.
And with so much development scheduled to continue, the value of this property is only set to rise. So much so that CityRise believes “Birmingham house prices will increase by 19.2% between 2023 and 2027 compared to the predicted UK average of 8.9%”.
- Business Opportunities
As an attractive area to live for diverse communities spanning dynamic demographics, Birmingham is also an excellent place to do business.
From technological innovations to healthcare and manufacturing, Birmingham provides a strategic location for various sectors within a diverse economy and collaborative business community.
In tough economic times in the UK in recent years, the city has managed signs of development and progress, with its economy expected to be in the top three fastest growing in the UK.
- High Rental Growth
Birmingham promises significant rental growth with 16%-20% increases witnessed in 2022.
In 2023, expectations for rental increases suggest they will rise another 5%, rivalling other cities like Leeds (3.5%) and Bristol (4%). These unveilings provide buy-to-let professionals with profitable opportunities to flourish.
Birmingham provides versatility to suit and attract numerous communities. Urban districts with popular student areas continually deliver higher rental yields for landlords, while young families find rural boroughs in the surrounding towns and villages attractive to raise children.
Invest with the Best Building Contractors in Birmingham
Whether you’re looking for design and build services or land acquisition, refurbishment and renovation, Vivante Homes is a forward-thinking, privately owned property development company specialising in high-end, sustainable construction in the Birmingham area.
From peaceful suburban family homes to modern, high-rise apartment blocks in West Bromwich, as professional and proven property developers, we have delivered numerous residential and commercial construction projects in Birmingham.
Get in touch today for more information on Birmingham construction opportunities and receive your free assessment.
