INVESTORS are flocking in their droves to the North West city, as a pleasing combination of low house prices and high rental yields make a booming Liverpool the place to put your money.
Liverpool has undergone something of a renaissance in the last decade. Since the city enjoyed its European Capital of Culture year in 2008, it has gone from strength to strength economically, positioning itself as a viable global contender and competitor.
Thanks to extensive regeneration projects, a huge rise in both general and city centre population and a concentration on new and innovative industries for young professionals, Liverpool has become the very model of a modern city. Consequently, it is the UK’s most exciting hotspot for buy to let property investment.
When it comes to buy to let property investment in Liverpool, the city is amid a perfect storm of economic and social factors. Its overall population of 470,000 has moved en masse to the city centre; an area which has experienced a doubling in the number of residents. Many of these are young professionals and graduates in the 25 to 34-years-old age demographic, the majority of whom form part of ‘generation rent’. These young professionals and graduates see renting as a more feasible option, not being keen on having to be tied down to a mortgage. They also see city centre living, as opposed to suburban, to be far more convenient and attractive.
With proximity to leisure facilities such as bars and restaurants, ease of access to their place of employment and simply being able to live in and among a vibrant busy centre, a savvy buy to let investor with the right choice of accommodation can make incredible returns on the Liverpool market.
Leading property firms such as RW Invest have a range of properties in Liverpool that are always in demand from eager young professionals and graduates. The type of high-end, luxury property on offer from the firm offers investors between 7% and 9% net rental returns on their outlay; some of the biggest, best and most enticing rates in the country.
It is important as investor to make an early foray into a burgeoning market, and Liverpool presents one of the great available opportunities in the entirety of the UK. There is amazing room for growth too.
The city’s myriad regeneration projects are bolstering the city’s exciting future economic prospects. The ambitious and extensive Liverpool Waters scheme is one of the most intriguing developments in the country. At a cost of £5.6 billion and over the span of 30 years, Liverpool’s world-famous waterfront will be reshaped, becoming an economic and tourism juggernaut in the process.
Elsewhere, projects such as the Ten Streets redevelopment will revitalise the neglected industrial streets on the city’s north side and will breathe new life into the former heart of Liverpool’s trading past. Outlying areas of the city such as Anfield are the recipients of much-needed and wanted regeneration work. Anfield is being redeveloped to the tune of £260 million, bringing it up to speed and making it a more attractive and desirable place to live.
For investors, the time is now. House prices in the wider North West region are growing faster than any other part of the UK. The 12-month period to July 2018 saw property values in the region increase by 5.6%, well ahead of the national average of 3.1%. Capital appreciation is high, as are rental yields, and one smart and considered investment could supply high income to a buy to let landlord for years to come.