Liverpool is bursting with love and admiration for everything the city has to offer. It is compact, brimming with history and internationally recognized as one of the biggest success stories the UK has witnessed in any city to date. It is no surprise the city stands impressive as a thriving iconic port buzzing with activity, as its famously warm welcome offers visitors, tourists and investors an ideal destination to explore.
For decades Liverpool was known as a hard-working city famous for its notable trades of shipping and exportation of goods, now more commonly celebrated as a sporting city famed for two world class football teams alongside a strong culture made omnipresent through its triumph in 2008’s European Capital of Culture.
The city’s impressive cultural heritage is strengthened through an ongoing city-wide program of urban regeneration that is transforming the landscape into one of the most successful, prosperous and charming cities in the UK. Liverpool Waters is currently the city’s largest and most determined project aiming to redefine the waterfront into a prodigious destination uniting business, leisure and residential facilities.
Furthermore, the city’s sister project over the other side of the River Mersey named Wirral Waters outlines a masterplan design to create a city extension. Both momentous projects are pivotal components in raising the city’s profile to attract developers and investors who are keen to be part of an emerging city.
Liverpool is evolving at a high speed as it explores new avenues, discovers new markets and develops pioneering ways in which to progress and grow the city further. As one of the UK’s most sought after international locations for business and investment, Liverpool welcomes a competitive, friendly environment aiming to continue driving growth across the local economy.
Investing in Liverpool’s property scene is a safe proposition as the city is experiencing a real shortage of high quality accommodation available, meaning that apartments can be rented at a premium price due to severe undersupply. This is great news for investors as Liverpool emerges as a national buy to let hotspot.
Across the city the earnings to house price ratio is one of the strongest throughout the UK, as properties typically cost around 4.8 times the local annual salary. The average house sells at around £118,000 and as house prices across the city have increased by almost 25% in the last five years, property investors can get a lot more for their money with established companies like RW Invest.
In terms of rental returns, Liverpool has continually been the frontrunner for one of the best places in the country for landlords wanting to secure some of the UK’s most profitable yields. With house prices in the capital four times more expensive than Liverpool, investors from the south are migrating up north to cities like Liverpool to reap the benefits.
Lower house prices, high tenant demand and ambitious new developments make Liverpool a city ripe for investment. With around £50 billion projected to be invested into Liverpool over the next half a century, Liverpool is one of the core cities being targeted for the government’s Northern Powerhouse initiative.
The Northern Powerhouse initiative aims to boost the local economy through investment in innovation, skills, transport and culture to allow Liverpool to flourish to its true potential. Metro Mayor Steve Rotheram is hoping to gain control over the city’s funding to shape a prosperous future from increased investment to create more homes and an improved infrastructure as a result.
Through expanding transport links and improving existing infrastructure, the city has become more accessible for people up and down the country. Approximately 6.2 million people live within an hour’s drive of Liverpool city centre, therefore after transforming local infrastructure, Liverpool’s opportunities stand stronger as it is more accessible for the many.
As numerous regeneration schemes are causing the city to evolve, Liverpool is a lucrative place for buy to let landlords and property investors. Its burgeoning economy, relentless student population and a growing number of young professionals secure encouraging investment prospects for the future, therefore should be a welcomed consideration for any savvy investor looking for their next opportunity.