With the property market currently recording record growth and a rising need for new rental properties, now is a great time to consider investing.
Liverpool is one of the UK’s fastest-growing property markets, with rapidly rising rental yields and millions worth of regeneration being pumped into the city.
The Liverpool property investment firm RWInvest has several new builds ready to invest in to make the most of the current market climates.
In this guide, we’ll explain five reasons why you should invest in Liverpool property in 2022.
House Prices Are Rising
Across the nation, the property market is seeing rising prices. The national average has risen by 12.4% according to Gov.uk. Liverpool is in line with this trend, with prices across the city rising.
This means now is the best time to invest in the Liverpool property market, as it will only become more expensive to do so in the future.
Liverpool’s Population is Growing
In the past year, Liverpool’s population has grown by 0.66%. This may not seem like a large number, but it is actually the largest increase in over 20 years.
More people than ever are moving to Liverpool, meaning there will need to be more properties on the market to meet this demand. Many new apartment blocks are being built around the city to provide cutting-edge accommodation.
This increase will see Liverpool become one of the fastest-growing cities in the North West.
Rental Yields Are Rising
Rental yields are rising at the fastest rate for 16 years and will continue to do so. Savill’s forecast predicts a growth of 19.9% over the next five years, and Liverpool has some of the most potential for growth.
Already in 2022, there has been an increase in rental prices of 3% in the city, far above the national average. This figure is expected to rise as time goes on.
This means that you will earn more from your investment as time goes on, making Liverpool property investment a strong option to add to your portfolio.
Liverpool is a Focus of Regeneration
Over the past few years, Liverpool has been the focus of large-scale regeneration schemes that have revolutionised the city. Billions have been pumped into schemes designed to revitalise Liverpool into a centre of culture and industry.
This work is not done, as further schemes are expected to invest over £1 billion into Liverpool’s science, technology, health, culture and education sectors which is sure to attract more people looking to make the most of Liverpool’s regeneration.
The City Has a Large Student Population
Liverpool is home to four universities with one of the largest student populations in the UK. Current estimates have over 100,000 students living in the city.
Student properties are some of the most valuable buy-to-let properties on the market due to the constant need for accommodation during university term times. This is because you can have multiple tenants per property, and they are only used for roughly nine months of the year.
With all four of Liverpool’s universities growing, this need will only increase as time goes on.