New research shows that the future arrival of HS2 in the West Midlands is already driving huge investor confidence in the region, with data pointing to an economic uplift of £10bn over the next 10 years.

Economic analysis of the areas close to HS2’s three hubs in the West Midlands - Curzon Street Station in central Birmingham, Interchange Station in Solihull, and the Washwood Heath Depot and Network Integrated Control Centre - shows dramatic increases in regeneration and investment in the last six years.

Since Royal Assent was granted for the railway in 2017, the number of planning applications seen in a 1.5 mile radius around these three major HS2 hubs has increased by two-thirds.

Over the same timescale, the area of total planned floorspace - including commercial and residential - has increased by 200%, and the planned number of new homes has increased by almost 500% - from 10,000 to 55,000 homes.

According to independent research commissioned by HS2, this increase in investment activity far outstrips any rises in planned development outside of HS2’s impact zones and has occurred despite economic shocks caused by the war in Ukraine and the pandemic. The rate of increase in planned housing within HS2’s impact area has been 14 times greater than elsewhere in the region, with the uplift in total planned floorspace over four times greater.

Since 2017, the construction value of major new projects in HS2’s three impact zones has increased by 240% - from £4.5bn to £15.4bn. This is further evidence of increased investment and activity around the three HS2 hubs.