Property investment is continuing to boom – despite uncertainty over Brexit – with opportunities flourishing in Birmingham.
A global survey of High Net Worth Individuals – those earning more than £100,000 a year – has found that more than four in five (85%) who currently invest in property have not let Britain’s pending departure from the European Union deter their ambitions.
The research, conducted after Article 50 was triggered found that property remains a key investment choice – with three in five investors (59%) selecting this option, being beaten only by stocks and shares.
One in four (23%) of those surveyed actually cited Brexit as the catalyst for them to invest.
The research findings from Censuswide, on behalf of leading UK property developer SevenCapital, comes as data from HM Land Registry shows that Birmingham is experiencing a property boom amid Brexit bungles – with house prices rising at three times the national average rate.
Many opportunities for investors to capitalise on the increased figures in the Second City are found in the city centre, which is undergoing a huge transformation to become a world class city.
Beating Brexit woes, the Second City has recently welcomed the relocation of ring-fenced HSBC headquarters from Canary Wharf to Centenary Square, which is set to have 3,600 staff by 2020, while HMRC has signed a 25-year lease at 3 Arena Central.
The rejuvenation of Birmingham is further highlighted as the city looks forward to hosting the Commonwealth Games in 2022, HS2 and the £1.5 billion Smithfield regeneration – among other events.
Investors will be further pleased to note that research by Zoopla has found that Birmingham’s property market has seen the fastest growing house prices of all UK cities since the June 2016 EU referendum.