Inward investment in Birmingham is on the increase with organisations including Deutsche Bank, HSBC, John Lewis, Channel 4, HS2 and the BBC bringing thousands of new jobs to the city in the coming months and years. Brexit, despite fears that it may have a negative impact in terms of investment into the UK, is expected to have a more positive impact in Birmingham and the regions; London is likely to suffer most.
Birmingham’s population is due to grow 8% over the next 5 years to 2021, which equates to an additional 53,000 people, taking the total population to 1.14m. At any given time in the city centre, there are between 50 and 500 applicants seeking rented accommodation, but this is seasonal; January sees fairly low numbers of applicants, and by August, there are more than 500 looking.
Demand remains high, with rents and average tenancy durations on the increase and voids low.
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