Property investors are increasingly turning their sights to Liverpool’s prosperous property market, especially since prices in the capital have escalated to become completely out of reach. Liverpool’s young population, teamed with a thriving regional economy, has helped many unique developments to crop up over the city. These have created an enticing opportunity for both those visiting and those who wish to carry out business, not to mention Liverpool transforming into a top performing buy to let hotspot.
Statistics show Liverpool’s population is set to dramatically increase to 970,000 by 2030, which will place a large strain on the demand for suitable housing. Currently the city has a huge tenant demand, which is encouraging the property market to flourish. Through rising populations, it is a fantastic time to consider investing in Liverpool, with certain postcodes producing rental returns of almost 12%. Liverpool was featured in a recent study which stated that the city had three of the top ten postcodes in Britain’s top performing buy to let hotspots. The L7 postcode had rental yields of 11.79%, L6 had 11.52% and L1 had 9.36%. Impressive, high achieving postcodes have been the catalyst behind the successful property market throughout Liverpool as investors are making great returns.
Liverpool has risen in popularity over the years due to it emerging as a top student city, the ambitious regeneration plans that aim to reshape the cityscape, and the affordable property prices that more and more people are taking advantage of. There has also been an enormous spike in the number of property transactions occurring across the city, from 2,494 deals in 2012 to over 7,000 by 2018. Evidently, Liverpool is a fast-paced city with an abundance of opportunity, enticing people from all over the world. The unique area is made up of inspiring neighbourhoods, some of which are undergoing significant transformations to enhance the city as a whole. The Baltic Triangle and Liverpool Waters are two of the most notable regeneration projects, the latter being coined the largest regeneration in the whole of the UK.
Liverpool Waters aims to redesign the iconic waterfront by creating a multiuse destination that will be a place to live, work and invest, with companies such as RW Invest providing you with information as to how you can secure yourself a brand-new property there. Other new districts like the Baltic Triangle recently won the title of the coolest place to live in the UK, as it offers a range of quirky restaurants, rich history and independent businesses. These areas have been growing in popularity, particularly as residents and investors are looking for city centre locations.
A young population throughout the city is one of the major reasons as to why Liverpool has caught the attention of investors. The largest demographic is the 17-29 age bracket. Nearly 30,000 people of this age group live in the city centre, with forecasts of the figure rising further. Students are drawn to the city centre due to the high standard of universities, enticing a total of 70,000 students. Affordable living, great returns and increasing levels of opportunity are a contributing factor as to why a large percentage of students continue living in Liverpool upon the completion of their studies.