As the eighth best UK city for work-life balance, Birmingham is continuing to attract more professionals and businesses. This will also further boost the city’s property market moving forward.
Work-life balance has become particularly important in the wake of the COVID-19 pandemic and successive lockdowns. Because of this, more buyers and tenants alike are looking for locations that can provide a better quality of life.
A recent study by Shawbrook Bank set out to find the 15 top cities in the UK for work-life balance. It looked at a number of metrics, including average monthly salaries, commute time and weekly working hours.
Sally Conway, head of consumer communications at Shawbrook Bank, comments: “The past 18 months have been extremely difficult for many Brits trying to regain their work-life balance.
“Being happy in the city you live in is so important but can depend on a number of factors. Whether it’s a shorter commute time, more hours of daylight or being able to choose from a vast array of takeaways or parks to enjoy, it’s important to consider what works best for you and your lifestyle.”
Shorter work weeks and easier commutes
Birmingham is the eighth best city in the UK for work-life balance. The average number of hours worked per week comes to 32.7 in the city. This is the third lowest in the top 15 and 1.1 hours below the UK average. The average commute is also 28.85 minutes, which is also below the UK average of 30 minutes.
Additionally, Birmingham’s average monthly salary is £1,743.17, which is below the UK monthly salary. However, property prices and the cost of living are lower there than many of the other cities on the list, such as London, Oxford and Cambridge.
“Our happiest cities index takes into account a range of metrics that apply to a healthy work-life balance, allowing consumers to evaluate how they live and work and if their city allows for what they attribute to a healthy work-life balance,” Sally Conway says.
A top business region
Birmingham is one of the most important business regions in the UK. Major businesses and startups are continuing to choose the city in the West Midlands as a key office location, bringing more jobs and professionals to the area.
Earlier in the year, Birmingham received a lift with the announcement that Goldman Sachs is opening an office there. This will bring forward hundreds of job positions. And more businesses are expected to follow suit in the coming years.
The city’s economy is also recovering strongly from recent uncertainty. And Birmingham is expected to benefit long-term from hosting the Commonwealth Games 2022, which is bringing additional investment and development to the city.
Booming property market
As Birmingham is seeing more improvements in infrastructure and additional investment, development and regeneration, the property investment potential of the city is growing even more. With Birmingham’s rising position as a global city, this will likely bring more businesses and people to the area.
Rental demand has also been on the rise in the city, particularly from young professionals. These factors will further boost Birmingham’s property market as the appeal of the city to live, work and invest in continues to rise.
BuyAssociation has a range of property investment opportunities across Birmingham, including the highly anticipated 28-storey South Central development. For more information, get in touch.
