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Liverpool Echo
Liverpool Echo
Business
Storm Newton

Liverpool hailed as a 'property hotspot'

Liverpool has been branded a UK property "hotspot" in new research, with house prices growing by 14%.

The figure, included in Liverpool: A Northern Powerhouse, Dockside Regeneration Property Report, found the city is outperforming the likes of Manchester, Leeds, Birmingham and London.

The price of apartments is also 60% cheaper per sq ft than in the capital; a budget of £1.5m would get one apartment in central London compared with five or six in Liverpool.

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The growth figures for Liverpool have been steady for a decade now, with prices more than 50% when compared with ten years ago.

The market research report was commissioned by Beauchamp Estates and Logic Estates, with analysis by Dataloft.

There is currently £14bn being pumped into the regeneration of Liverpool, bringing forward a 30-year project to overhaul the northern docks to create a mixed-use area home to the likes of the Titanic Hotel and Everton's Bramley Moore Stadium.

Waterfront property in the city has outperformed the wider Liverpool market for rentals since 2017. Yields are 6% for a one-bed apartment and 6.5% for two beds, compared to 4.5% and 6.3% in London respectively.

The report focuses on the likes of Tobacco Warehouse at Stanley Dock, which will comprise 550 loft-style apartments once complete.

The Tobacco Warehouse and Stanley Dock will have 550 loft-style apartments once complete (Stratus Imagery Ltd)

Paul Finch, head of new homes at Beauchamp Estates, said Liverpool's "The city-wide investment, both in regeneration and infrastructure, is driving economic growth".

He added: "Waterside activity is creating a highly desirable residential and leisure destination. Our latest report reveals the momentum that the residential property market is gaining and the city’s top performance, particularly in prime waterside.

"The success of Tobacco Warehouse, which is more than 50% sold in phase one, shows clearly the appetite for and appeal of premium homes in a waterside location, both within the local and wider market. Projects like that at Bramley Moore Dock and the Ten Streets move forward and further phases of Stanley Dock complete interest and demand will rise further."

Nick Goldsworthy, co-owner of Logic Estate Agents, said: "The city’s rich past, architectural legacies and maritime history all combine to create a unique and vibrant city, which is returning to form."

Over the past five years, Liverpool's demographic has also changed; there has been a 44% increase in people aged 19 to 30, compared to 42% in Manchester, 19% in Birmingham and a decline of 7% in London.

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