Liverpool is one hot city these days. Famed for it’s musical past, it now deserves, more than ever, its recent City of Culture award.
Alongside those four mop-top lads more famously known as The Beatles, the city is home to many architectural delights like the Liver Building, the Albert Dock area and cultural spaces like the Tate Modern and the Walker Art Gallery.
Heaving with investment and a thriving creative scene alongside a healthy, growing, student population, Liverpool has a recently been awarded a coveted spot in the top five buy-to-let locations in the UK according to the cohesive LendInvest Buy-to-Let Index. And it’s not hard to see why. With two major football teams, access to stunning beaches and nearby Wales, great shopping and a kicking nightlife, Liverpool really does have something for everyone.
According to the report, Liverpool comes second in the buy-to-let yield stats, coming in at 8.80% in the L7 area. Liverpool drops back in at ninth with a yield of 8% in the L6 postcode to boot. The city is undergoing a huge period of investment, with a £5 billion redevelopment programme well underway making now the time to get in early before the boom of this long-deserving city really takes off. Our top three offers in the city are: the centre, Kensington, and Edge hill.
Liverpool has a fabulous city centre. Unlike bigger metropolises, there is a genuine community to be found here. When the nine to fivers clock off, the centre will be just as buzzing with people returning to their homes and making the most of their centrally located homes. There are some beautiful and highly affordable parts of the city centre in a variety of styles from grand Georgian homes, to loft-style waterfront apartments. There is plenty of choice for renters and investors alike.
Thanks to the newly renovated Liverpool Royal Hospital and major investment in housing in the area, Kenny, as it’s affectionately known, is booming in popularity with a new kind of resident. With young on-call medics and other public sector workers like teachers, Kensington is changing from a student area, to one for young professionals. A huge residential project for the former Kensington market site has just been given the go-ahead and there are 100 new homes penned in for December 2019.
Located to the South East of the city centre and bordering other hot rental areas like Kensington and Wavertree, Edge Hill is home to the curious Williamson Tunnels. Now a major tourist attraction this underground network of tunnels criss-cross secretly beneath the city. Investing in the Edge Hill area could mean you are getting in ahead of the game. It also means you are making the most of the massive investment in the surrounding areas whilst going a little left of the major hotspots. It’s always a safe bet to invest in areas bordering the most popular areas with renters.
Liverpool offers lots of great opportunities for buy-to-let investment with good potential yields. It’s a buzzing city with lots to offer and a variety of renters from students, to young professionals and families alike. Kensington, Edge Hill and the city centre are top choices, but as ever, make sure you do your research first.