Why invest in Liverpool?
Liverpool, a Historic Port city in the North West of England. Famously home of the World Famous band the Beatles. Now Liverpool is one of the best locations to buy investment or ‘buy-to-let’ property. Below we take a look at the key reasons why Liverpool is a great place to buy property.
Low property prices
Excellent growth prospects and high yields for investors, is an excellent reason to Invest in Liverpool Liverpool offers relatively inexpensive property values with in demand and stable rents. Which means investors can achieve higher yields in comparison to the more expensive cities such as London. Liverpool has also been slower than other cities to recover from the depressed property values caused by the global crisis. Therefore, buyers considering buying UK property, Liverpool represents a good value investment. Furthermore, investors can capitalize on the predicted growth. Liverpool has regularly featured as a buy-to-let hotspot from commentators; HSBC rank Liverpool among the top 10 locations for buy-to-let property investment in 2015, citing average yields of 6.56%. The average rents in the area are predicted to increase circa 20% in the next 5 years. Interest rates are currently low and buy-to-let mortgages are more readily available; now is an opportune time to invest in buy to let in Liverpool.
Liverpool’s transforming through mass regeneration
The large scale regeneration schemes across Liverpool, have encouraged an abundance businesses and of young professionals, wanting to live in the cultural city. Which is an addition to the demand for rental property. Property owners are now benefiting from increased rents due to the competition from potential tenants. The Albert Dock, a Grade I listed dockyard, Is a prime example of a large scale regeneration in Liverpool. Located in the heart of Liverpool city Centre, the dockland was formerly a hive of activity and a hub for trans-Atlantic trade. The Albert Dock has transformed. Consequently, it is now an extremely popular destination with award-winning attractions, restaurants and bars. The Albert Dock receives over 4 million visitors each year and nearby attractions include the Beatles Story, the Tate Liverpool and the National Museum on the Liverpool Waterfront. Therefore, highlighting Liverpool’s position as a transforming and up and coming city.
Liverpool’s high student population, which fuels rental demand
Liverpool has 3 world-class universities. The University of Liverpool, Liverpool John Moores University and Liverpool Hope University have over 60,000 students combined. Additionally, Liverpool has highest student retention rates in the UK, with 6 in 10 students staying in employment in the city. Therefore, boosting the number of skilled workers in the city who are looking for private rented accommodation and is great for the local economy and landlords alike. Furthermore, this trend will boost the 25-35 year old population which is they key demographic of 1st time buyers, increasing the numbers of home buyers entering the market will further stimulate house price growth.
Liverpool Waterfront a UNESCO World Heritage Site
Liverpool’s waterfront is a designated World Heritage Site.The accolade was granted by UNESCO in July 2004. The city’s bid was centred on Liverpool as a Maritime Mercantile city and reflected the city’s significance as a commercial port at the time of Britain’s greatest global influence. The World Heritage Site stretches along the waterfront from Albert Dock, through The Pier Head and up to Stanley Dock, and up through the historic commercial districts. Therefore enhancing Liverpool’s reputation on the international stage.