Liverpool is a proud city nestled on the riverside in England’s northwest. It is home to almost 1 million people across the metropolitan area, with 496,000 of that figure concentrated in the city centre. It has become a hotspot for tourism, business, and students, bringing hundreds of thousands of people to its streets each year on a short or long-term basis. It is home to plenty of businesses, attracting plenty of workers in the medical, science, and manufacturing industries. It has also become a popular commuter city, as it is in close proximity to Manchester, Birmingham, and others.
It is expected that the city will see strong growth in the coming years, making now the best time to invest to capitalise on future gains. Liverpool (and indeed, Manchester) is a major city in the northwest and has seen a lot of interest from both developers and investors recently, as well as currently undergoing major redevelopment plans across the city, which is why it is a great time to invest in Liverpool.
Liverpool Growth Predictions
House Prices
Despite the UK property market struggling recently, one such area that has stayed on top is the Liverpool property market.
Average house prices in Liverpool have seen remarkable growth over just the past decade. The increase has totalled at63.4%. Currently, according to Rightmove, the average house price (as of August 2024) in Liverpool was £214,812. This was further broken down into different categories, with different styles of homes averaging at varying costs. Semi-detached houses totalled the bulk of sales and sold for an average of £234,635. Terraced properties sold for £158,545 and flats sold for £138,012.
Liverpool has seen a slower house price growth compared to the rest of the UK, but that doesn’t mean it isn’t growing. House price growth over the last decade has been a still very impressive 63.4%. While this pales in comparison to places like Salford, which has seen a house price growth of 105% in the past ten years, this only means that Liverpool has more potential for exponential growth in the future. Its more modest growth of 63.4% also shows signs of steady and stable growth. The North West area of the UK has strong potential for capital values to grow, with a predicted growth of 28.8% over the next five years – the strongest in the UK.
Growth predictions for the city still look positive. Currently, house prices in Liverpool are an incredible 44% cheaper than the UK average, which is £351,000. Liverpool has a lot of appeal for investors due to this, meaning that there is a strong opportunity for capital appreciation and strong rental yields. The city was named, along with Manchester, as the top performer in England for house price growth. Property prices increased by 1.1% and 0.8% respectively in the 12 months preceding January of this year. It represents a decrease from the previous year but this was something that happened nationwide and the cities still outperformed the market in retrospect.
Population
Currently, the city’s population stands at over 496,000 people in the city centre alone. Liverpool’s wider metropolitan area has a population of almost one million. This figure has been steadily rising, growing by 8.1% since 2010. Oxford Economics has predicted a further increase of 2.2% by 2035.
The population contains a strong number of professional workers and students. The city is referred to as one of the best student cities in the UK by a number of publications and it has the figures to prove this: it is home to 70,000 students. The working climate of the city is also strong, with 644,600 of its population in employment. A lot of these are highly-skilled professions, with a lot of people working in Manchester or Birmingham and choosing to stay in Liverpool and commute to take advantage of cheaper living costs and the culture.
Summary
Off-plan property has taken the property world by storm recently and the Liverpool rental market is no exception. There are a lot of regeneration projects happening across the city and a lot of residences are also being constructed. This means that there is a lot of off-plan property in the city to be taken advantage of.
North Property Group is an investment property agency and lettings agency, with a predominant focus on UK new build and buy to let Liverpool residences. We find the best deals in not just Liverpool, but across the UK, securing deals with local and national property development agency leaders before presenting them to investors.
We’re proud to offer a comprehensive, end-to-end service for our customers as well. We handle the more humdrum aspects of investment, such as paperwork, tenant finding, and maintenance. Book a free consultation with us today to start growing your capital in premium UK real estate development and UK off plan property.
