Employment figures\u00a0from the Office for National Statistics between\u00a02015 and 2018\u00a0and property sales figures from\u00a0estate agency group\u00a0Countrywide\u00a0showed\u00a016 of the top 25 local authorities\u00a0that had\u00a0a rise in\u00a0employment\u00a0rates\u00a0also saw\u00a0higher than average house price\u00a0increases.<\/p>\n
The West Midlands\u00a0boasted\u00a0a\u00a06% increase in employment levels from 2015 to 2018, while the\u00a0national average during that same time period was 3.5%.\u00a0Savills\u00a0forecasts\u00a0the West Midlands to see a 14.8% growth in second-hand property prices across the next five years,\u00a0suggesting the future looks bright.<\/p>\n
Birmingham leads the\u00a0growth<\/h3>\n
Birmingham is the main engine behind the growth in the West Midlands. Over the past three years, this regional city\u00a0has\u00a0boasted\u00a0a 12% rise in employment levels and\u00a0a\u00a023% increase in\u00a0house prices<\/a>.\u00a0The upcoming\u00a0HS2 line<\/a>\u00a0is further driving house prices up as\u00a0demand for city centre homes\u00a0continues to grow.<\/p>\n Deloitte\u2019s Regional Crane Survey even revealed\u00a0residential development in Birmingham<\/a>\u00a0is at record levels. In the past year, 16 new-build developments have been completed and another 20 schemes are under construction. These projects include apartments, offices, and hotels\u00a0and\u00a0are\u00a0bringing\u00a0further investment to the thriving city.<\/p>\n The growing young population\u00a0in the West Midlands\u00a0has been cited as a strong indicator for a bright future\u00a0ahead.\u00a0PropCast, a website measuring demand for property in specific postcodes, revealed demand has increased by 5% in the\u00a0region\u00a0across the past three years\u00a0and that\u00a0most\u00a0buyers\u00a0have been\u00a0millennials.<\/p>\n As\u00a0Birmingham<\/a>\u00a0is\u00a0considered\u00a0one of the youngest cities in Europe, residents under the age of 25 make up 40% of the population.\u00a0With five universities located in Birmingham and a high\u00a0retention rate of graduates,\u00a0the growing young population is expected to further\u00a0increase demand\u00a0in the\u00a0city\u2019s\u00a0property market<\/a>.<\/p>\n This month\u2019s podcast will be covering everything you might need to know about Property Management &\u00a0Mortgages<\/a>.\u00a0We will be joined by Matt Eastham from Easthams & Co \u2013 Property Management and\u00a0Marcus\u00a0Docker from Visionary Finance. Giving us their\u00a0insider\u2019s view on everything you need to know in the\u00a0property management and\u00a0mortgages<\/a>\u00a0markets. Hosted by our very own Katie Walker.<\/p>\n Covering our some of clients top questions and the latest changes in the\u00a0UK property<\/a>market. Market trends. Section 21. Letting fee bans. Generation Rent. Buying a property in a LTD company.<\/p>\nA\u00a0growing\u00a0young population<\/h3>\n
Dig deeper on the UK property market, listen to the latest BuyAssociation podcast<\/h3>\n
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