In line with much of the UK, Liverpool is seeing a small but significant resurgence in the last couple of years, but one that seems limited to certain key areas and sectors. A key focus of this growth has been the continued demand for buy to let property in Liverpool.
Over the past two years, property investment in Liverpool has seen a considerable growth in demand from investors from overseas (particularly the Far East), primarily concentrating on the rising demand for both student and buy to let property in Liverpool.
With students and tenants now demanding highly quality and better located accommodation, a number of excellent new developments have been launched in the city. Today, despite the volume of student and buy to let property in Liverpool, there is still a considerable imbalance between the number of available units and overall demand from students and young professionals in the city.
Liverpudlians, or Scousers, are generally younger than the rest of the country – with 42% being under 30 and 65% of working age. Ethnic diversity is of particular note across Merseyside, with a White British majority as low as 93%. An Asian population of 3%, along with Black, Chinese and Mixed Race demographics of around 2%, make Liverpool one of the most diverse cities outside of London. Liverpool is home to Britain’s oldest black community and Europe’s oldest Chinese community – a result of its role as the dominant shipping port in the world.
Recent years have seen considerable increases in the levels of property investment in Liverpool with a variety of new developments, ranging from government funding on major capital projects such as the stunning Liverpool One shopping centre, through to the large and continuing interest in the student and buy to let property market in Liverpool.
Liverpool is continuing to enjoy economic growth and this is in no small part due to its burgeoning reputation as an innovative location for business, education, health provision and research. With its young population, it’s also a hub of creativity and this has helped to bolster its appeal as a base for tech and innovation startups, as well as established businesses.
The Knowledge Quarter (KQ) Liverpool encompasses an area of approximately 450 acres to the east of the city centre that includes Liverpool John Moores University, Liverpool Science Park and Liverpool Institute for Performing Arts, among other institutions. KQ Liverpool has been recognised as a dynamic space for education, science, health and technology and is subject to a massive ongoing programme of development and investment, with a board of city partners collaborating to decide on the most beneficial long-term plans for this dynamic quarter of the city.
Liverpool John Moores University and Royal Liverpool University Hospital are two of the largest beneficiaries in terms of investment, with the hospital being completely redeveloped and the university enjoying multi-million-pound funding to improve facilities and create greater opportunities for study and research.
Moving forward, one of the major focuses of the Knowledge Quarter is Paddington Village – a £1bn* site that will see the area expand to include new science and technology parks, as well as residential developments and leisure space. With two college campuses also being built in the village (Liverpool International College and The Royal College of Physicians), the aim is to attract national and international students and tutors, thereby cementing Liverpool’s reputation as a high-calibre centre for further education and research.
The huge long-term investment in – and citywide commitment to – the Knowledge Quarter will have a positive knock-on effect on the property sector, with high-quality developments offering investors a diverse range of options. From contemporary student accommodation to housing at the luxury end of the market, there will be extensive buy to let and other investment opportunities. The area is set to experience further expansion and continued regeneration as more companies, particularly in the science and technology sectors, choose to relocate here or establish regional offices to take advantage of the on-tap intellectual resources and state-of-the-art infrastructure.
While KQ Liverpool is currently a readymade creative hub that supports a growing community, it’s also an evolving collaborative enterprise that is extending its physical boundaries to offer workspace and facilities to world-leading educational institutions and innovative businesses. This is an exciting time for the city with partners, investors, local government and developers all on board to maximise the potential of this multi-use space.
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