Birmingham is transforming rapidly into the proud, vibrant and modern UK’ second city. Just this year, the city has seen brand new grade A offices, the world’s largest retail store, the extension of the tram network, restored historical and cultural heritage sites, and many more exciting changes. With the major investments pouring into the city, the is no wonder Birmingham is becoming a magnet for buy-to-let investors and an attractive choice for people relocating to the lively city centre. To see what has happened in Birmingham over the past year, click here.
Birmingham property market has performed extremely well compared to other regions and the strong demand has driven the prices up. With a fast growing population and one of the highest retention of its students, demand in Birmingham is fast outpacing the supply. To discover more about these trends encompassing all sectors in the property industry, click here.
The construction at The Axium is progressing well and completion for each block is still on track for March, July and September 2020.
The lightweight steel frame is now complete across all 3 blocks and the brickworks are ongoing.
The internal fit out is taking place throughout and Blocks 1 and 2 and the kitchens are currently being installed throughout block 1.
Block 3 is progressing with window installation taking place, as well as roof and brick works.
We are also pleased to announce that the show homes are now officially open and available to view.
Galliford Try (the contractor) are on track to deliver Blocks 1, 2 and 3 as per the schedule with Block 1 in March 2020, Block 2 in July 2020 and Block 3 in September 2020.
Galliford Try have completed the majority of the envelope works, including the lightweight steel frame structure, installation of all windows and roofing works complete and weathered. Brickwork is ongoing to Block 1 between levels 4 – 6. Internally all pods have been positioned and drainage connections made. The first visit for the partitions is complete and first fix of services to level 4 have been completed. Plastering works are ongoing on levels 1 & 2 and kitchens are being installed.
As above, the majority of envelope works in Block 2 have been completed, with brickwork being installed to levels 4 & 5. Partitions have been installed to level 3 allowing for the bathroom pods to be positioned and drainage connections made.
Block 3 is also processing nicely and is following behind Block 2. The lightweight steel frame has now completed and windows are being installed to level 4. Brickwork has commenced between lower ground and first floor. All bathroom pods have been delivered.
Jones Lang LaSalle predicts Birmingham’s house prices will grow by 15.9% and rental income by 16.5% between 2019 and 2023. To learn more about these trends and the underlying fundamentals of the vibrant Birmingham property market, click here.
Birmingham may be second to London in terms of physical size, but it is second to none as UK’s fastest growing property hotspot.
According to a report by the BBC, more than 6,000 people left London for Birmingham in 2015. Now, two years later, it looks like the influx of new residents into UK’s second largest city is still going strong and is unlikely to stop anytime soon.
The city is currently caught in the midst of exceptional economic growth, which is expected to continue well into the future. Between 2017 and 2021, Birmingham’s economy is predicted to expand at 1.6% per annum overall, with the financial and business services sectors leading this growth at an expansion rate of 2.3% per annum. Parallel to its growth, the city’s financial sector will see the addition of 5,400 jobs, equivalent to a 4% increase.
As opportunity seekers, business owners and employees follow the deluge of new jobs created in Birmingham, they will bring with them a projected demand for 4,200 new households. All these new residents requiring roofs over their heads can mean only one thing for Birmingham’s property sector – it is poised for an unprecedented growth.
Birmingham is an economic powerhouse that is poised for even bigger growth. The city offers investors – whether in property, finance, or businesses – huge potential. And it’s all thanks to a far-sighted blueprint drawn up in 2011.
Mr Bean’s iconic Mini car, the steam engine, and gas lighting; these three seemingly dissimilar things share something in common – they all have roots in Birmingham. The city in England’s West Midlands may not be the capital of the UK, but it definitely has many of its own claims to fame. Other influential inventions and famous names that came from the city include electroplating, Cadbury Chocolate, X-ray photography, the pneumatic tyre, and even cotton wool. Save for the Mini, which began production in 1959, the other inventions date back to between the mid-1700s and late 1800s, charting Birmingham’s growth from a small hamlet to a major city that was a powerhouse during the industrial revolution.