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About Liverpool

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About Liverpool

Overview

Liverpool has the fastest growing economy outside of London generating £17 billion per year. It’s one of the North West’s core cities and principal regional economic drivers. Liverpool has a population of over 480,000 people (the 4th largest population in the UK) and is a major employment centre, with 13,500 businesses and some 186,000 jobs.

Liverpool currently boasts one of the highest average rental yields within the UK, with average yields of up to 7-8%, exceeding the average found in London at 4.86%.

The University of Liverpool, Liverpool John Moores University and Liverpool Hope University have over 70,000 students between them. Liverpool has one of the highest student retention rates in the UK, with six out of ten students staying in employment in the city, which boosts rental demand in the city even further.

Rental prices

One of the biggest boosts Liverpool has seen in recent years has been in the rental sector. Growing numbers of businesses, a rise in student numbers and a huge demand for skills in emerging digital, science and tech sectors has meant a surge of new people coming to live and work in Liverpool.

Liverpool has enjoyed the best rental price increases seen anywhere in the UK.

This has opened the door to developers and investors in the city’s private rented sector, who have been able to come into the market and enjoy increasing returns, as demand pushes rents ever higher. With two-thirds of all homes in the city centre, according to JLL Residential, now rented privately, it’s not hard to see why rents are climbing in relation to competition among tenants.

 

  • Liverpool was the UK’s top city for rental yield in buy-to-let property as at May 2017.

  • Rents in the North West rose by 2.4% over the course of 2017 .

  • The North West region saw the fifth largest increase in rents in the UK during 2017.

  • Current asking rents in Liverpool stood at £883pcm in January 2018.

  • Liverpool apartments were commanding significantly higher rents than houses as at January 2018.

  • Top three most profitable postcodes for buy to let homes were all in Liverpool as at October 2017.

Property prices

Rising house prices are a good indicator that the market is strong and this is something that has been seen in Liverpool in recent years.

According to JLL Residential’s report, over the course of the last three years, the average property has risen in price by 4% in 2014, 13.5% in 2015 and 6.7% 2016. This means that as of the end of 2016, the average price of homes in Liverpool sits at £145,000 for a one-bedroom property and £230,000 for a two-bedroom property.

Overall, more money coming into the sector is good news, as investors increasingly buy homes to rent out, inflating prices as demand climbs. This has no doubt been fuelled by things such as the shortage of homes to rent for the city’s 70,000 students, and the rising number of people coming to Liverpool as part of the so-called ‘Shoreditch exodus’, moving skilled jobs away from London and into the region.

  • Property values in Liverpool have risen by 28.35% over the past five years.

  • Apartment values have increased by 29.82% over the same period.

  • Liverpool achieved year on year house price growth of 6.2% in the year to November 2017, with growth of 3.2% in the last three months alone.

 

Key locations:

Ropewalks

Baltic Triangle

Georgian Quarter

Albert Dock

Cavern Quarter

Liverpool ONE

Infrastructure Investment

Liverpool Waters is a £5.5bn scheme to develop the historic docklands site. Started in 2012, the 30-year vision is part of the £75bn Atlantic Gateway project to develop a strategic corridor stretching 40 miles from the Port of Liverpool to the City of Manchester. Liverpool Waters will create a world-class, high quality, mixed use waterfront quarter in central Liverpool. The site covers 60 hectares of land spreading over 2km of the world famous Liverpool Waterfront.

Liverpool2 is Peel Ports new deep water container terminal which opened in 2016. This creates the capacity for the Port to be UK’s national gateway and transshipment hub for Ireland. Liverpool2’s newly created landmass of 213,000m2 will bring forth a vast array of economic and social benefits to Liverpool and the broader North West region. Collaborations with Liverpool Community College and Mersey Maritime will offer job specific training and employment opportunities for the community.

Economy

  • Liverpool is one of the UK’s fastest-growing economies outside London, and is one of the North West’s core cities and principal regional economic drivers.
  • £12bn worth of assets handled by city’s wealth management sector.
  • £4.5bn of investment has transformed the city with new leisure, retail and commercial developments creating further employment and greater prosperity.
  • £5.5bn proposed water front redevelopment in the pipeline.
  • 5 Year high for the number of new businesses in the city of Liverpool.

Well Connected

  • 3rd most visited City in the UK
  • 2 hours from London
  • 30 minutes from Manchester
  • International Airports: Liverpool John Lennon and Manchester Airport

Key facts:

  • Awarded European Capital of Culture in 2008.
  • One of the two main core economies in the North West.
  • One of the 100 most visited cities in the world.
  • One of the most extensive rail networks in the country.
  • Supporting a wealth management sector handling assets of some £12 billion.
  • £4.5 billion in investment.
  • Population now stands at 480,000, a growth of over 6% in the last decade.

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