Most people know Liverpool for the Beatles or its famous football team. Now, the city is being hailed as the next property hotspot. With prices way below the national average, and Liverpool currently the fastest growing economy outside of London, its easy to see why.
According to the latest government data, Liverpool’s regional economy is one of the fastest growing in England. In fact, output in the city has increased by 39% in the last decade. It is a base for many major companies including Jaguar Land Rover, Maersk, Barclays Wealth, who are investing heavily in the city, and increasing employment numbers.
Liverpool’s property market boasts a 10% year on year rental price increase, and a 15% year on year price growth, and there are billions of pounds worth of developments underway.
Inward investment is a huge focus, notably the £5.5 billion rejuvenation project; Liverpool Waters. The historic dockland will be developed into a commercial and residential focal point of its vibrant city.
Known as the city by the sea, Liverpool is a world class tourist destination, with plenty of attractions, and a strong culture and history. From fantastic shopping and sport to legendary music and nightlife, Liverpool is bursting with energy. It’s restaurants, international hotels, trendy wine bars, and an unbeatable variety of museums, galleries and theatres attracts 30 million visitors each year. 50,000 students currently reside in the city and 60% of those need accommodation. Not only does this paint a promising picture for the future, it also means a large influx in build-to-rent developments, which are great yielding hands-off investments.
Via train, you can travel almost anywhere you could want to – you can take the TransPennine Express to Manchester or Newcastle from Liverpool Lime Street station, and getting to London is just two hours away with hourly services, and the city will soon benefit from HS2. The Liverpool John Lennon airport also connects you to nearly 70 international destinations.
With a young population, a growing reputation as a tech hub and investment flooding in, the city has a lot to offer for those looking to add to their property portfolios.
To find out more about investing in Liverpool property, click here.