Liverpool is well placed to build on recent good news for its property scene in the years to come, with new building projects and statistics showing the city by the Mersey is a good place to invest.
It’s world renowned for a cultural heritage that gave birth to arguably the most popular and influential pop group ever in The Beatles, as well as two Premier League clubs in Liverpool and Everton that have spread the gospel of football around the globe.
Being Europe’s Capital of Culture in 2008 sparked new interest in the city, with spin-off benefits in both lifestyle and where to live. Many buildings dating back to Liverpool’s industrial and maritime heyday have been redeveloped, and the regeneration theme is continuing with some exciting new residential projects.
House prices on the rise and a market moving with the times
Liverpool topped Hometrack’s UK Cities House Price Index recently, thanks to prices there rising by 6.9% in the year to September 2018. With Hometrack’s data showing an average price of £120,500, Liverpool is highly affordable, and it also scores well in the rental market.
And did you know that Liverpool is one of the first cities in England and Wales to migrate to the Local Land Charges online register? It’s a move that is expected to make homebuying easier for buyers, sellers, conveyancers, estate agents, and local authorities.
Buy-to-let a great option
It has built a reputation as the best buy-to-let city in the UK, and recent figures from Totally Moneyhave confirmed that. Liverpool has five of the country’s top 20 postcodes when kit comes to buy-to-let rental yields and at 9.79%, L7’s yield makes it the second best in the list. It includes popular areas Edge Hill, Fairfield and Kensington, and average rent is £943 per month.
There are some enticing property developments on the horizon around the city. Around 2,000 homesare planned for Festival Park and 1,000 jobs are earmarked for Paddington Village in an urban development project that, like Festival Park, is being promoted by the Department of International Trade.
Liverpool’s waterfront is one of the city’s most famous landmarks, and following the end of large-scale industry and the docks, the area is undergoing regeneration. The Liverpool Waters development currently under construction around Princes Dock, Central Docks, Clarence Docks, Northern Docks and King Edward Triangle will see around 9,000 residential apartments plus retail and leisure facilities.
Could potential Everton move bring more spin-offs?
And the area could see another exciting development with Everton FC keen to leave Goodison Parkfor a brand new, state-of-the-art stadium at the Bramley-Moore Dock. The plans, which have been under public consultation, would see the area around the Toffees’ old ground regenerated as a community living scheme.
Liverpool is well served by road and rail links, and there is a plan to build a new line to Manchester Airport, connecting to the High Speed 2 hub to be built there. John Lennon Airport, to the south of the city, has undergone extensive expansion in recent years.