Birmingham and Coventry rank in top 10 of UK’s fastest growing cities

Birmingham and Coventry are two of the UK’s top 10 fastest growing cities, according to latest research.

The UK 2019 Vitality Index from Lambert Smith Hampton (LSH) ranks the two cities neck and neck in ninth position in its ‘fastest growing’ index, based on a combination of population, growth in economic output and commercial property rental data.

The index provides a comprehensive assessment of the health of UK towns and cities, taking into account education, entrepreneurialism, affluence, productivity, growth and environmental factors. It identifies which destinations are best placed to support future economic growth and provide opportunities for businesses to expand over the coming year.

Coventry climbed 16 places to 21stposition overall, driven by an improvement in a number of metrics. The UK City of Culture title will help to galvanise wider plans for regeneration in the city centre, the report said. Coventry will also be home to the National Battery Manufacturing Development Facility following the Government’s £80m funding pledge.

Birmingham is ranked 15thoverall, while Warwick is in 12th.

Warwick features in the top 10 of three of the categories. It is ranked second in growing affluence, combining house price and wage growth, and second in the most highly educated, reflecting the educational attainment of each town, incorporating exam results, proportion of residents with degrees and the presence of a university.

It is ranked as the fifth most entrepreneurial city, being amongst the most supportive of business environments, according to metrics on business density and new enterprises.

Adam Ramshaw, LSH’s regional director for the Midlands, said: “Understandably, Brexit is commanding the nation’s attention and there is a great deal of uncertainty as to how things will unfold. Consequently, it is very reassuring to see that the economic health of the nation’s major towns and cities has improved since last year and the top ten locations should prove among the most economically-resilient locations of 2019.”