Guest post by Amy Green from Liverpool Invest.
The Liverpool housing market went crazy this summer, seeing sales going through the roof. The combination of the stamp duty holiday plus many investors having disposable cash saved during the Coronavirus Pandemic. The property market in Liverpool saw a mad dash for property from March to September, with first time buyers, second time movers and investors all competing with each other.
How crazy was the Liverpool property market in summer 2021?
So we know it was a crazy market this summer, but actually how crazy was it? I was looking for a 3 bedroom property in Liverpool during May 2021 and I turned up at one terraced house in L17 to find a queue of over 30 people waiting to view – no joke! Never before had I seen this in my lifetime. Houses were selling within 24 hours of going on Rightmove from virtual viewing only!
Investors were not only coming to the North West from down South, but they were international. Many investors from Hong Kong, China and India have been snapping up properties at over asking price as cash buyers.
So, why is Liverpool a great place to invest? Well Manchester saw a boom around 10-20 years ago and so it’s almost impossible to pick up a terraced house for around 100k there, but in Liverpool you can still do so.
But it’s not just value for money that Liverpool offers, think about the accessibility of the city. With Motorway access, a national train station, local bus network and John Lennon Airport, Liverpool is a truly international city and it’s only going to expand.
Amenities in Liverpool are second to none. The Beatles Story and the Cavern bring Beatles fans from all over the world, while Anfield brings in the football fans. With the Albert Dock, Liverpool ONE and three universities, I’m sure that you will agree that it’s a city with so much to offer.
Where to invest in Liverpool
Many people often ask me about the best areas to buy in Liverpool. Well, that all depends on the kind of person that you want to rent to, your budget and your business model.
L6 (Kensingon and Tuebrook) are good areas for cheap investments that you want to let out as short term rentals or Air BnBs. The Georgian Quarter is great if you want to rent out city centre apartments to working professionals and post grad students. Wavertree is excellent for both student and family rentals. If you have a bit more on your budget to spend then go for affluent and stable areas like L17 near Lark Lane and L18 (Penny Lane Area).
What about you? Are you considering investing in Liverpool? Or perhaps you have already invested in the city and seen a good return? Please feel free to comment on the blog below.