Liverpool’s property prices have risen by 22.7% over the past five years, with apartments going up even more – by 25.2%. Liverpool was the ninth fastest growing city for house prices in the UK in 2016, with year on year growth of 7.0%. A recent population boom, paired with an undersupply of housing, make for an exciting investment case. The city’s population rose from 435,500 in 2001 to 466,400 in 2011. Meanwhile, Liverpool has been building homes at an average rate of 713 per year between April 2009 and March 2016.
One of the reasons for Liverpool’s sustained property price growth is the pace at which demand for properties in the city has outstripped supply. Liverpool’s population fell steadily from the 1930s until the early 2000s, when a resurgence of city living saw it increase from 435,500 in 2001 to 466,400 in 2011, according to Census data.
The pull of the UK’s cities on young professionals seeking economic opportunities has put pressure on housing stock. At the same time, homebuilding in Liverpool is below the level required in order to meet demand. The Home Builders Federation puts that number at 3,000 homes per year, but only 1,700 new homes were started in Merseyside in 2014/15, down 27.7% from the year before.
Backed by housing undersupply and rising prices, these attributes make Liverpool one of the UK’s most popular residential property investment destinations.
For more information on our developments and the investment case for Liverpool, please contact the team at Surrenden Invest today.