The recent news from The Times that Liverpool was one of the best places in the UK to invest in a buy-to-let property didn't surprise us Liverpool estate agents, in fact, anyone who works in the property industry up here knows just how lucrative the opportunities are. There are 52,300 businesses across the city, 58,000 students and 30,000 graduates amongst the 902,867 strong population. The city has a captive audience and property investors are certainly happy to cater for their needs.
You only have to visit one of our auctions to see the amount of out-of-town investors and the sheer amount of interest in the various Liverpool properties and land for sale, ready to be turned into epic apartments...they can see the potential that the city has. Recently, Tom Miah, a Property Investor said that the majority of his investment properties are in Liverpool due to the high rental returns that the South simply can't compete with:
"[This]cements my companies investment strategy. 70% of my investment properties are in Liverpool and are all medium to long term investments, minimum 3 years. The rental returns is double if not triple what you would get in the South hence over the last 15 months my focus has been in Liverpool."
In the article from The Times, it highlighted how the average rental yield in Liverpool is 9.9% whereas in the UK it's 3.6%, this incredible difference makes our city a destination for property developers, investors and entrepreneurs. In particular, the postcodes L7, L1 and L5 were named as the hotspots for property investment in the UK.
Average Asking Rent Per Month: £859
Average Yield: 9.9%
L7 is located right by Liverpool's university quarter and within walking distance of the Royal Liverpool University Hospital, making this postcode highly desirable for those looking to invest in property.
Average Asking Rent Per Month: £721
Average Yield: 7.5%
Bang in the middle of Liverpool city centre, this is where many of the city's workers want to live to experience the easiest commute to work, amazing culture on their doorstep and a fantastic array of bars and restaurants.
Average Asking Rent Per Month: £599
Average Yield: 7.4%
Just a five-minute drive to the city centre and close to Liverpool Football Club's stadium, there is little wonder why this is one of the hottest postcodes for property investments. The property here is cheaper than in other areas of the city too!
According to Invest in Liverpool, the city has £20 billion of investment opportunities and boasts "high-quality, cost-competitive, low-risk sites and properties". Although first-time buyers in the city may not feel too thrilled about property prices, Liverpool has some of the cheapest properties in the country with the average property price being around £53,000 less than the national average. For those looking for a real bargain, hitting the local property auctions will result in finding some hidden treasures, properties that have huge potential can go for incredibly low prices.
If you are looking for properties to buy at auction, make sure you register with our Venmore Auction team and enjoy bidding for properties at home with our new digital auctions!