Regeneration
Liverpool has undergone a renaissance of regeneration in recent years, transforming the city’s economic fortunes. Paddington Village, a major 30-acre development, is Liverpool City Council’s flagship development which will be an international destination for technology, health, new science and education and is expected to generate more than 10,000 new jobs.
Pall Mall is another leading regeneration scheme, developed with an aim to boost the city’s commercial district. The project is comprised of new Grade A office spaces, hotels, retail and leisure amenities, as well as high-quality landscaped green spaces – all estimated to be worth over £200 million and generate more than 1000 jobs.
Other major plans include the £1 billion Liverpool ONE – the nation’s largest open-air shopping centre which has cemented Liverpool as one of Europe’s leading retail and leisure destinations, attracting around 29 million visitors each year whether it’s local residents or international tourists.
The plethora of regeneration and investment in the area can largely be owed to the Northern Powerhouse initiative and explains the significantly growing population in the area – transforming the city into a top location for property investment in the UK.
High Demand
With property, the North of England boasts the best of both worlds; lower entry price points combined with higher profits. This has led northern cities to experience a sharp increase in rental demand, boasting an appealing outlook for investors looking to make the most profitable returns. Data from Rightmove revealed that Liverpool saw a 72% annual increase in rental searches – indicating the surge in buyer appetite within the city. This trajectory of growth is expected to continue in the North as affordability continues to dominate the UK residential property market.
In response to the growing demand in the North, the rate of capital appreciation has been outstanding in these regions. For example, figures from Zoopla’s House Price Index indicated the North West, North East and the Yorkshire and Humber regions hit a 10-year high in house price growth – demonstrating momentum in the market is coming from areas where property is the most affordable.
According to Rightmove, the average asking price for a three-bedroom property in the North West equates to £193,357, in comparison, asking prices in the South East are nearly more than double the expense. This reveals Liverpool and the wider North West region as one of the most affordable areas to invest in having seen the fastest rate of growth in 10 years.
Property Market Predictions
According to Savill’s 5-year house price forecasts, the North West region is expected to grow by 27.3%, the highest rate of growth across the whole of UK. The data indicates two-and-a-half times the rate of growth than is predicted in London. It’s clear Liverpool has a vision for the future, and with predictions like these, we are extremely confident this region will remain dominant in the property investment landscape.
Alesco Properties
Throughout the first quarter of 2021, our flagship schemes in Liverpool and Manchester outperformed all other developments in our portfolio. Below are two of our most sought-after investment properties in Liverpool thanks to their attractive price points and favourable terms.
