Liverpool is absolutely thriving as a city right now.
Its population has been increasing steadily, the past decade, it’s economy is continuing to improve and the city has gone through (and still is) tons of regeneration efforts.
This means that now is as great a time as ever to invest in property in Liverpool.
If you still need convincing, here are some reasons to invest in Liverpool property.
Liverpool has been going through a ton of regeneration efforts to upgrade the city drastically.
As these projects are completed over the next several years, property values are sure to increase, reflecting these improvements and the rising demand to live there.
These projects include:
● £500 million going towards improving its roads
● Expanding Anfield stadium (home of Liverpool FC0 and improving the surrounding area
● £1billion of new developments in the Liverpool Knowledge Quarter
● Liverpool One, a £960 million shopping centre built in 2008
● From 2013 to 2018, Liverpool had a 25.2% increase in bars and restaurants
Rental yield is a measure of how much cash an income-generating asset produces each year as a percentage of that asset's value.
So for real estate, the rent yield is the rental income as a percentage of the property’s value.
Liverpool has some of the best rental yields in the country.
Liverpool’s average rental yield is around 5%, far better than cities like London (3.05%0 and Southampton (3.55%).
This means that if you invest in rental properties in Liverpool, you have the potential to earn more money.
When you’re looking for a property to invest in, the ideal scenario is you buy property for a low cost that will appreciate over time, allowing you to charge more for rent and/or sell for a profit down the road.
This scenario is precisely what is happening in Liverpool right now.
At the moment, the property values in Liverpool are relatively low and affordable. The average price of a house in the UK is around £300,000, while the average in Liverpool is only about £174,000.
But in recent years, they have been rising, with no signs of stopping.
Over the past five years, property values have shot up by 25.2% in Liverpool and sold prices the past year were up 2% over the previous year.
And with the city thriving, there are many positive projections for property values in Liverpool, some even predicting housing prices in the North West rising by 24%.
Jobs have been on the rise in Liverpool as well.
● The tech sector has had massive expansions
● Tourism has increased, which supports over 57,000 jobs
● 11,451 new businesses started up in 2018
● Reports are predicting that 11,600 new jobs will be created over the next three years.
And Liverpool has a massive student population with about 70,000 students.
Tons of jobs and students means people will be looking for places to live and rent.
Want to make some Liverpool property investments after reading this? Of course you do.
If you don’t know where to start, you can contact a property sourcing company.
They source out property deals for you, making your life real easy. All you have to do is make a budget then invest!
One company that does this is Winova Properties.
They’re a Liverpool Property Investment and Sourcing company that can find you an excellent property investment.