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Cardiff is very much a city on the up, with its population and economy growing at a faster rate than London and many of the other core UK cities.
As one would expect of a capital city, Cardiff has many things to see and do. From Cardiff’s cherished shopping districts, famous for its Victorian Arcades to its lively city centre packed with trendy bars and restaurants. If you are interested in history, Cardiff has even more to offer. Cardiff is a hotspot for culture with attractions including Cardiff Castle, the National Museum, and the St. Fagan’s National Museum of History. Attracting 20 million visitors annually, Cardiff is also high ranking as one of the UK’s most popular tourist cities.
Over the last two decades, property prices have risen by 240%, considerably higher than the national average. Despite such large price growth, the property market remains more affordable than the UK average. Coupled with strong rental demand that is showing no sign of slowing down, many Cardiff postcodes are achieving the highest rental yields in the country. It is no wonder why investors are flocking to the Welsh capital.
Furthermore, Cardiff benefits from a large student population, with three universities based in the city. Cardiff University, The University of South Wales and Cardiff Metropolitan University have a total student population of over 70,000, sustaining strong demand in the rental sector. As a result of the enormous number of students in the city, an impressive 57% of Cardiff’s workforce are degree level educated. It is no secret that a city’s economic success depends largely on the workforce it can offer businesses. For larger companies looking to relocate to other UK cities outside of London, the student retention rate is an important factor.
In recent years Cardiff’s economy has grown drastically.
5.7%GVA Growth Rate
Cardiff’s economy has gone from strength to strength, and its growing employment base can testify. The city has grown and become the core of investor opportunity. £1.2 billion is being invested in the area. This will deliver 25,000 new jobs and attract £4 billion of private sector investment. BBC Wales and HMRC are also both establishing large new offices in the city, bringing with them 4000 new staff to the city centre region. Furthermore, Cardiff Bay is seeing £500 million of redevelopment which will be based around a 15,000-seat indoor arena with new restaurants, bars and residential areas.
Furthermore, Cardiff is projected to see population growth of 25% by 2034, a rate of growth that exceeds all UK Core Cities and is even higher than London. According to Oxford Economics, employment is forecast to grow by 12% by 2030, outpacing the UK growth forecast of 8%. This strong growth is concentrated in the professional, scientific and technology sector, which is expected to grow 60% by 2030.
With thanks to their excellent rail, road, and air infrastructures, Cardiff is effortlessly connected to the rest of the UK. Providing a direct route to London and the South-East, Cardiff is located on the M4. Cardiff also has fantastic rail connections, with the Central Station boasting twice-hourly services to central London taking just 1hour 45 minutes. Boasting one of the largest urban rail networks in the UK outside London, there are 89 stations that link to Cardiff.
If that wasn’t enough, Cardiff has received an investment of £1 billion into the South Wales metro. This has revolutionised the city’s internal transport system allowing workers to live outside of the centre and be able to effortlessly commute. Also, Cardiff airport is just 12 miles from the city centre, seeing off more than 50 direct flights to cities across the UK and Europe, and 900 global connections.
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