The population of Liverpool city centre more than doubled
Investing in buy to let property in Liverpool is currently a good option for a number of reasons. Liverpool is home to nearly half a million people, a major city in the UK and key to the economic Northern Powerhouse, the UK Government’s multi-billion pound regeneration program. Liverpool city centre has gone through major developments in the last few years. The growing population and affluence has meant a strong demand for quality city centre rental properties, however this has been met by a structural undersupply of properties for this rising population.
Now a city on an investment growth curve, Liverpool is enjoying the kind of investment never before seen outside of London evidenced by a record number of new businesses in 2015 with 4,473 created with a 22% increase year on year in 2017, strong population growth and one of the strongest GVA growth rates amongst major cities in the UK. Liverpool’s economy is growing faster than London, Manchester and any other major British city, according to latest figures released by the UK Government showing an annual growth rate of over 3% more than double that of London.
£8billion UK Government backed investment into Liverpool
17.6% total rental growth projected by 2021
Shortage of 40,000 homes
Economy worth £149billion
The last year alone has seen property prices rise by 6.2%
As employment pulled young professionals into the city centre, they increasingly sought to live close to work. This led to a sharp rise in demand for rental accommodation. The situation was exacerbated each summer as the city’s students overflowed from university accommodation into the private rented sector.
The influx stimulated growth of Liverpool’s buy-to-let market, and as demand for property continues to increase, the values are still going up. The last year alone has seen property prices rise by 6.2% among the fastest growing city centre performance in all of the UK.