While Liverpool is most famous for The Beatles, its eponymous and the iconic Royal Albert Docks, there is so much more to the city. Located in the northwest, Liverpool is a cultural and historical hub, boasting some of the best UK businesses, landmarks, attractions, property, and educational opportunities. An abundance of new developments, regeneration projects, affordable property prices, and increasing rental demand also adds to its charms.
It should, therefore, come as no surprise that the city’s population has seen an increase of 23,000 residents in the past five years alone. Furthermore, with the city now confirmed as the host for the Eurovision Song Contest 2023, it will be firmly fixed on the map as one of the UKs’ boldest and brightest places to live and visit for years to come.
What’s On Offer
The City of Liverpool holds a huge draw for many, not just because of its grand history but also its amazing attractions. Its home to miles of coastline, beautiful heritage sites, a vibrant nightlife, and awe-inspiring parklands, so there is something for everyone to enjoy. Whether it be a drink at the Cavern Club where The Beatles first performed, a bite to eat at the Baltic Market, a riverboat across the Mersey, you will never be lost for activities in this great city.
It is this plethora of credentials that is helping to secure a prosperous future for Liverpool, which is set to relish a predicted GVA growth of 2.8% each year until 2025; overtaking its regional counterparts. Not only is this level of growth helping to cement Liverpool as one of Europe’s major cities, it was recently ranked in the top ten of the UK’s best cities, ahead of Bath, Belfast, and Oxford, according to Conde Nast Traveller.
Additionally, business is booming in the city region too. 83,500 companies currently call Liverpool home, with a spike of 10.5% formed in 2021. This is a new record for the metropolitan hub that shows no signs of slowing down, providing all the more reason for investors to take a serious look at this thriving location.
A Land of Opportunity
Despite all that Liverpool has to offer, it remains an affordable option for buyers, especially when compared to other UK cities. According to Rightmove, the average house price in Liverpool is estimated at £201,012, in significant contrast to London’s £877,915.
As house prices continued to hit consecutive highs during 2022, demand for rental property across the UK has increased, providing excellent opportunities for investors. In Liverpool, the rental yield is higher than anywhere else in the UK, with rental values forecast to rise by 3% in the city by the end of 2022, which is 0.5% more than the national average. This makes property in Liverpool a shrewd investment for those looking at buy-to-rent property, with fruitful rewards highly likely.
Available Developments from Hunter Jones Group
Investors will be happy to learn that Hunter Jones Group has a new site in Liverpool under our umbrella, which is due for completion in the second quarter of 2024.
Central East is part of the exclusive Westminster Park development, located in the north of the city. Situated just a five-minute walk from Liverpool’s centre, it boasts 114 luxury studio, one-bedroom, and two-bedroom apartments. The site will also house a private gym, a residents’ lounge, a 24-hour concierge service, communal gardens, and parking. This modern development lies just on the edge of the £ 5.5 billion regeneration project – Liverpool Waters – a hub, bustling with restaurants, bars, cafés, shops, and leisure facilities.
Those interested in Central East for investment opportunities will enjoy projected rental yields of 12.2%, with an average rental income estimated between £750 – £1,150 PCM. Not to mention a low entry point for an off-plan one-bed apartment, with a deposit requirement reduced to just 20%.
If you would like to find out more about this opportunity, please click here to register your interest.