AN AUDIENCE CHASING INCOME
London, MJ Direct, Birmingham’s City Centre flatsAge UK have recently produced some most interesting statistics regarding the current & likely future demographics of the UK.
A snapshot shows the following; 22.7m people in the population are currently over 50 years old. This is approximately one third of the population. Interestingly more people are 60 or over than 18 or younger. At 60 or over there are 14.7m people & this is expected to rise to 20m by 2030. 11 million people are now over 65 .This 17.7% is expected to rise to 23.5% in 2034. There are currently 3 million people over 80 and the studies suggest the numbers reaching 85 & over will double in twenty years & triple in 30 years. The numbers now living over 100 years old has risen 73% in ten years.
Some of you may be alarmed by the aging population or excited about the business opportunities that come from an audience with more time on their hands and more money than ever before. Powerhouse Cities like Birmingham now have the opportunity to become the income providers to this increasing group of people as they look as individuals or in groups/funds for safe property investments to drive regular & consistent income.
We are continuing to feed investors with good Buy to Let opportunities throughout the City Core & recommend prime locations which currently offer reasonable returns alongside up & coming locations which have the potential to offer enhanced capital plus income yields as the location changes in character. Birmingham though does not behave like London . The latter invariably offers a wall of investors once a location is perceived as changing & becoming cool. Here we do not have the interest in quite the same way however our urban areas do change but the process is always slower and advice I recommend more than ever to potential investors. Your timescale for holding is often the key.
Inner City Birmingham is though now a good choice.