Why invest in off plan property in birmingham?
A Booming Economy
Birmingham’s economy has boomed since 2000. GDP has grown a significant 100%, reaching over GBP37.9 billion in 2023. This strong performance is expected to continue, with forecasts predicting a further 92% increase by 2040. Individual wealth is rising too, with average GDP per capita up 70% since 2000 and projected to increase by a further 74% by 2040.
High Demand and Low Supply
Since 2011, the city’s housing stock has only increased by 22,806 units, falling short of meeting nearly half (48%) of its needs over the past nine years.
Strong Capital and Rental Growth
Birmingham’s housing shortage, combined with its economic growth, has driven house prices up 68% in ten years. This trend is likely to persist, with forecasts indicating a substantial 33% increase by 2035. Yet today, Birmingham house prices are still 74% more affordable than London.