{"id":5024003,"date":"2019-06-24T10:06:27","date_gmt":"2019-06-24T09:06:27","guid":{"rendered":"https:\/\/www.buyassociation.co.uk\/?p=5024003"},"modified":"2019-06-24T10:06:27","modified_gmt":"2019-06-24T09:06:27","slug":"west-midlands-has-seen-a-rise-in-employment-rates-and-house-prices","status":"publish","type":"post","link":"https:\/\/www.buyassociationgroup.com\/en-hk\/2019\/06\/24\/west-midlands-has-seen-a-rise-in-employment-rates-and-house-prices\/","title":{"rendered":"West Midlands\u00a0has seen a rise in employment rates and house prices\u00a0"},"content":{"rendered":"

A\u00a0recent\u00a0analysis shows there\u2019s a clear link between areas with strong employment growth and house price rises.<\/h3>\n

An\u00a0article by\u00a0The Times\u00a0looked at\u00a0a study\u00a0by estate agency Hamptons International,\u00a0which revealed\u00a0the\u00a0West Midlands<\/a>\u2019\u00a0economic\u00a0and employment boom has positively impacted the region\u2019s property market.<\/p>\n

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

A\u00a0growing\u00a0young population<\/h3>\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

Dig deeper on the UK property market, listen to the latest BuyAssociation podcast<\/h3>\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>\n

\"Apple

 <\/p>\n","protected":false},"excerpt":{"rendered":"

A\u00a0recent\u00a0analysis shows there\u2019s a clear link between areas with strong employment growth and house price rises. An\u00a0article by\u00a0The Times\u00a0looked at\u00a0a study\u00a0by estate agency Hamptons International,\u00a0which revealed\u00a0the\u00a0West Midlands\u2019\u00a0economic\u00a0and employment boom has positively impacted the region\u2019s property market. 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… Read more »<\/a><\/p>\n","protected":false},"author":1982,"featured_media":5024006,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[197,6],"tags":[],"acf":[],"_links":{"self":[{"href":"https:\/\/www.buyassociationgroup.com\/en-hk\/wp-json\/wp\/v2\/posts\/5024003"}],"collection":[{"href":"https:\/\/www.buyassociationgroup.com\/en-hk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyassociationgroup.com\/en-hk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-hk\/wp-json\/wp\/v2\/users\/1982"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-hk\/wp-json\/wp\/v2\/comments?post=5024003"}],"version-history":[{"count":0,"href":"https:\/\/www.buyassociationgroup.com\/en-hk\/wp-json\/wp\/v2\/posts\/5024003\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-hk\/wp-json\/wp\/v2\/media\/5024006"}],"wp:attachment":[{"href":"https:\/\/www.buyassociationgroup.com\/en-hk\/wp-json\/wp\/v2\/media?parent=5024003"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-hk\/wp-json\/wp\/v2\/categories?post=5024003"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-hk\/wp-json\/wp\/v2\/tags?post=5024003"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}