Liverpool council has announced plans to build 10,000 new homes, highlighting the city’s urgent need for new housing to provide for its growing population. The council plans to set up a ‘commercially driven’ housing company to progress the work, which will be spread across sites owned by the council and by the private sector.
The £1 billion commitment was one of the cornerstones of Mayor Joe Anderson’s manifesto when he was elected in May 2015. He describes the ambitious program as the “biggest and boldest house building program, probably in Europe.”
Prime Centrum Business Development Manager Stuart Johnson comments,
“The commitment to build 10,000 new homes in Liverpool is much needed. The city’s ageing housing stock and increasing population have created a severe shortage of homes, meaning that long-term planning like this is required in order to give Liverpool’s residents the high quality accommodation that they both expect and deserve.
“The plan is also indicative of Liverpool’s attraction as a place to invest in property – housing shortages like this aren’t solved in a hurry, meaning that investors can be assured as to the long-term prospects of Liverpool’s property sector.”
While the Mayor’s plans will take some time to come to fruition, investors keen to buy in to Liverpool’s property market have some excellent opportunities available to them. Elegant buy-to-let apartments at Parliament Residence, located by the city’s stunning UNESCO World Heritage waterfront, are available from £109,900. The one and two bedroom homes enjoy a 22% early investor discount and 7% NET income per annum assured for the first three years.
Not only are the yields appealing when it comes to investing in residential property in Liverpool, but capital growth is also an attraction. The city was flagged as enjoying the fastest rate of house price growth in the UK in the May 2016 Hometrack UK Cities House Price Index, with a growth rate of 5.4%.
For more information, contact the Prime Centrum team and download the Prime Centrum Liverpool City Guide 2016 for free.
The Hometrack UK Cities House Price Index May 2016 has revealed that Liverpool is leading the UK when it comes to property price growth. The figures show a growth rate of 5.4%, reconfirming Liverpool’s position as one of the best cities in the UK when it comes to buy-to-let investment.
Stuart Johnson, Business Development Manager at Prime Centrum, which recently launched the brand new Parliament Residence development in Liverpool, comments,
“The Hometrack data confirms what those of us in the know have been saying for some time now – if you want to invest in buy-to-let accommodation in the UK then Liverpool is the place to be. Investment here has surged in recent years, with high end residential accommodation in the city centre proving particularly attractive. Liverpool is a leading UK city in many respects and buy-to-let investors are now enjoying the capital gains of their recent purchases.”
All eyes will be on the housing sector as the reality of Brexit sets in across the UK, but so far the Hometrack report has maintained a largely positive tone on the matter:
For investors in Liverpool, that makes for encouraging reading. The city – like much of the UK – is in the grips of a housing shortage and buildings like the iconic, waterfront Parliament Residence are helping not just to address that shortage but also to drive up standards across the private rented sector. Light, airy apartments offer spacious accommodation, while a sleek roof terrace with breath-taking views makes the most of the building’s setting by the UNESCO World Heritage waterfront.
Investment in Parliament Residence is available from £109,900 for a one bedroom apartment, with early investors enjoying a 22% discount and 7% NET income per annum assured for the first three years. With confidence in the UK’s property market remaining strong despite the whole Brexit debacle, and Liverpool leading the country’s house price growth, the time is ripe for buy-to-let investors looking for a location with excellent potential.
For further details please contact the Prime Centrum team. You can also download the brand new Prime Centrum 2016 UK Buy-to-let Guide free of charge.
New data from Hometrack has highlighted Liverpool city centre as enjoying the fastest increase in property prices in Q1 2016.
Nationally, the Hometrack UK City House report recorded city house price growth of 4.2% across the quarter. The figure represented the fastest pace of growth for 12 years.
Liverpool stood out not only due to its experiencing the fastest rate of growth of any UK city, but also for topping the tables when it comes to gross yield by city, reaching nearly 7% during the quarter.
High yields and low buying costs make for an exciting environment for investors. The Hometrack data revealed that prices in Liverpool remain 11% below their 2007 peak.
These low prices, along with the high demand for rental property being experienced in Liverpool, means great investment potential and the Prime Centrum team has been working diligently to ensure that the best of these opportunities are passed on to investors.
Buy-to-let investment in Liverpool is thriving. The city is packed with young professionals who want high end homes but who either can’t stretch to the deposit required to buy or just don’t want the hassle of being tied down through home ownership. Their emphasis is on superior accommodation with added benefits – developments that don’t feature some kind of bonus feature, like a stunning roof terrace with waterfront views, simply don’t get a look in.
These young professionals and their families are driving a surge in demand for high quality rental accommodation in Liverpool, so much so that Liverpool is rapidly becoming the city of choice for savvy buy-to-let investors.
Contact the Prime Centrum team today for further details on buy-to-let investments in Liverpool.