Booming sales of vehicles by Jaguar Land Rover, which is at the heart of Midlands manufacturing, is acting as a catalyst for the region’s property market and economy.
Commentators may discuss the growth of services, TMT and so on but the image of the Midlands is making cars. The revival of the industry has been the key factor in the return to form of the industrial and logistics sector.
Confidence has also returned to the office sector, though many agents are cautious about progress. They all agree, however, that there is a shortage of prime space.
On the other hand it would appear that the development cycle has started to move.
Certainly in Birmingham plans are coming forward. Here, as in so many cities, there may well be a problem with the amount of office space taken off the market for conversion to residential use restricting the availability of sites.
This will prove to be another example of unforeseen circumstances following a decision by government. The times this happens are legion and this is likely to be the case with the easing of controls on building in the Green Belt.
The investment in transport is playing a significant factor in the upsurge of local property markets throughout the region. Nottingham is getting a revamped main line railway station, a new road giving access to the motorways and an expanded tram network.
Birmingham is also getting an expanded tram system and a vastly improved New Street Railway Station.