Liverpool is one of the most popular cities in both the UK and Europe. The metropolitan borough is home to just under 500,000 people as of 2018 (according to the Office for National Statistics) and that figure is estimated to continue to rise. The city itself has also experienced considerable economic growth in recent years. With a strong economy on the rise and massive residential appeal, Liverpool makes for an extremely attractive location for buy-to-let investors.
Here are some of the key features of Liverpool that make it one of the most desirable locations to both live and invest in:
Life in Liverpool
Life in Liverpool is pretty great, with the city being considered as one of the most vibrant and exciting in the country. One of the most popular activities in the city is to go out for food and drink. Liverpool has a rich selection of well renowned eateries, with city favourites including Panoramic 34, Mattou, Mowgli and the Baltic Market. Another prime location to visit in Liverpool is the iconic Royal Albert Dock. Just a 20-minute walk from Lime Street Station, the Docks offer any visitor a plethora of independent shops and cafes to take a look round, as well as phenomenal views along the waterfront.
You can’t live in Liverpool without hearing about the football. The city is home to both Everton FC and the current European Champions, Liverpool FC – two of English football’s most recognisable teams. Throughout the football season you can catch both teams playing at their respective stadiums, Anfield and Goodison Park.
Liverpool is also one of the most accessible cities when it comes to getting there and getting around. There are a number of train stations in the centre, with multiple routes available to get to the city, including direct lines from London, Manchester and Birmingham. In addition to the trains there are a number of bus routes connecting the suburbs and districts with the city centre, making it extremely accessible for all.
City of Culture
Liverpool is filled to the brim with culture and character. The city is still to this day the only English city to have been awarded the European City of Culture (2008) and it’s clear to see why. The music scene in Liverpool produced arguably the greatest band of all time in The Beatles – with the famous four paving the way for Liverpool’s iconic music scene that still to this day continues to stay strong with bands like The Wombats and The Coral touring all over the country.
As well as the music scene, Liverpool is home to some of the most beautiful cultural landmarks. With architectural structures such as the Liver building, Albert Docks and the Bluecoat as well as the two stunning cathedrals to name a few, Liverpool offers stunning views throughout. The city’s architectural scheme from the beginning of the 21st century was dominated by the city’s bid to become the European Capital of Culture and it’s safe to say it paid off.
Liverpool’s Property Market & Economy
Liverpool is currently undergoing a massive regeneration plan worth a staggering £14 billion in the hopes of improving the already impressive economy. Some of the key points include;
• Allowing the build of nearly 35,000 new homes to meet the needs of a growing population
• Providing the places to work for an estimated growth in jobs of nearly 38,000 – on nearly 150 hectares (370 acres) or nearly 250 football pitches in the area
• Protecting and managing developments affecting open space and the natural and historic environment of the city so that it is not significantly affected
• Promoting better quality new homes that are wheelchair accessible, meeting residents needs throughout their lifetime if necessary
• Increasing the supply of affordable homes
• Managing the over-concentration of developments such as hot food takeaways and homes in multiple occupation (HMOs)
• Promoting key development areas especially within the City Centre – protecting the key assets and role of those areas while encouraging and enabling more growth from the Baltic Triangle in the south to Ten Streets in the north and the waterfront in the west to Paddington Village in the east.
The plan has already proved to be effective, with the Liverpool property market drastically improving in recent years. JLL forecast that house prices in Liverpool are set to increase by 2% in the next year and 2.5% every year afterwards up until 2023 – massively contributing to the North West regions expected 18.1% growth by 2022. Buy-to-let investors have found investing in Liverpool to be an extremely profitable venture thanks to higher than average yields. In the L1 area, the average yield stands at an astonishing 8.5%.
Liverpool is one of the UK’s most popular and recognisable cities. Its ever-growing economy and booming property market make this the perfect time to invest! Take a look at our tenanted, income-generating properties today here.
