Investing in the Liverpool’s Property Market
Both Liverpool and Merseyside have seen a lot of changes in the past decade, none more so than within Liverpool’s property market.
Up till a few years ago, developers and investors especially piled into large metropolis city centres such as Leeds, Manchester and Liverpool. Then came the big bubble burst.
Trends are now certainly changing within the Liverpool’s property market as more and more wealthy Chinese and Far Eastern investors who prefer the stability, democracy and uncontested titles that Britain offers, as well as the prestige it brings in owning property a British property. What they also tend to have in mind is the education that this prospect brings to their children in the English-speaking world. A further sweetener many are attracted to the strength of the UK rental sector.
Liverpool is certainly a city on the up. The £5.5bn Liverpool Waters scheme which has been backed by the Government, means that this actually has brought in a lot of fresh talent and people into the city, which inevitably shows a gradual growth in the demand for properties in both Liverpool and Merseyside.
Current forecasts show that by 2030, there would be potentially some 250,000 new jobs within the Atlantic Gateway area. More jobs indirectly means that there is a increase in demand for housing in and around the city, which is fantastic news for landlords looking to expand their portfolios. Also as an added bonus, Liverpool has the fastest growing economy outside of London.
According to the latest Census figures released, the proportion of British households which are being rented out has increased in the past decade from 31 per cent to 36 per cent. Average monthly rents have risen by roughly 15 per cent, or £100, in just three years.*
So what is stopping you? If you are looking for that first step into purchasing that first property to start your property portfolio? P.S. Property investment means making the most out of a property, while spending as less as possible. At Express Conveyancing, we certainly have your conveyancing covered.
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