With several universities and endless graduate employment opportunities, Birmingham has a very young population. Sitting at 1,160,000 in total, research suggests that almost 50% of this entire population is under 29, while around 60% of the city's rental market is younger than 35.
Classed as 'Generation Rent', the growing presence of young professionals in the second city is increasing the demand for rental property. As the property ladder becomes less accessible for first-time buyers, almost one in three millennials are facing a lifetime in the rental market. Anchoring more tenants in the market than ever before, this is translating into a thriving demand for rental property in the UK's second city.
With forecasts suggesting that over 2,500 more homes would need to be built each year to satisfy this demand, it's no surprise that Birmingham is becoming a buy-to-let hotspot.