Central Birmingham 2040: Our Future City Plan

Golden Decade for Birmingham

Birmingham is sailing through a golden decade, fuelled by the success of the Big City Plan. Both national and international investments have helped reshape the economy over the years. Birmingham continues to climb the ranks, starring as one of the top investment cities in the UK. The arrival of the HS2 has boosted the desirability of Birmingham as a place of residence and work. Alongside enhanced connectivity, the city has benefitted immensely from the Commonwealth Games.

Birmingham is truly the epitome of regeneration. It is a regeneration success story which continues to unfold. Those who own property are guaranteed to witness a significant boost in capital appreciation in the coming years and decades. However, for those still on the fence about investing in Birmingham – it is not too late! Although property prices in Birmingham may be slightly higher, the city benefits from excellent rental demand and substantial capital appreciation. Therefore, generating a healthy return on investment.

Our Future City Plan:

Central Birmingham 2040

Birmingham City Council has officially unveiled the latest scheme: ‘Our Future City Plan (OFCP): Central Birmingham 2040’. This mammoth project will aim to remodel the city with new parks and green spaces, creating an area to unite residents. Especially during community events and festivals. During the pandemic parks and open spaces became an essential way to cope after being confined indoors. This translated through to the property market because there was a heightened demand for properties close to parks. As we work our way head into Q4, this trend continues.

The Our Future City Plan 2040 will transform Birmingham by creating an exciting, innovative, green city. The designs showcase open cultural spaces, green walkways, and tree-lined parks. The city core will reconnect to the surrounding inner city areas, enhancing accessibility. Thus, benefitting residents and working professionals. Improving connectivity will always entice working professionals and boost rental demand in any given location.

CityRise Verdict

Birmingham continues to receive numerous investments from across the globe. The HS2 has broadened the pool of job opportunities, enhancing employment in the area and further afield. Once the HS2 line is complete, the service will attract many commuters travelling to and through Birmingham for work. The Midland Metro expansion and the redevelopment schemes for the Commonwealth Games have all reshaped the city. All these significant projects have positively influenced the economy and the property market.

Birmingham, the core of the Midlands, is a prime location on every property investor’s radar. Birmingham has expanded beyond its industrial roots, into a diverse and innovative hub. The UK’s Second City is definitely the place to invest if you are an investor looking to profit from high rental yields and strong capital growth. As a result of all the regeneration schemes taking place in the city, the economy is set to grow by a further 81%, reaching £59 billion by 2035.