Over the last decade or two, Liverpool has experienced huge investment into the regeneration of the city, transforming it into a place that people truly want to live and work. This has meant that the city’s business community has grown; increasing the demand for private rental properties within the area, and this is something that is set to continue for many years to come. Liverpool hasn’t often been considered as one of the big cities of the north when compared to Birmingham, Manchester and Newcastle, but that has now surely changed.
Liverpool’s booming Business Industry
The economy in Liverpool really has transformed over the last 20 years, more than doubling in value when compared to 1998. Such growth to the economy follows a surge of investments and interest from big businesses and wealthy individuals in the area, which has indeed developed the city’s business industry.
Although the country has a whole may not be able to boast such a strong economy, Liverpool as a city can. Liverpool has seen many successful businesses relocate to the city, leading Liverpool to have the highest proportion of fast-growing businesses in the UK, with an increase of more than 50% in the years between 2009 and 2015. This is an incredible statistic, especially when considering that a study in 2014 suggested that Liverpool’s start-up companies had the least chance of successfully surviving than in any other UK city.
Notable Developments in Liverpool
Liverpool has seen great investment into the city over recent years, with new developments completely transforming the city. However, Liverpool isn’t resting on its laurels, with bigger and better developments on their way, including:
Development of a Creative District – The Liverpool Docklands area has already experienced great investment and redevelopment, helping to transform the area. However, this area of Liverpool is set for even further development, with the plans in place for the creation of a ‘Creative District’. This new district is designed to house start-up businesses in the arts, digital and technology industries, whilst also creating 2500 new jobs in the process.
Everton Football Club’s New Stadium – With the takeover of the club by a multi-billionaire, Everton Football Club have great plans for the future, and that includes the development of a new football stadium. Everything is all set for the development of the stadium, of which will provide further help in developing the Docklands area.
Investing in Liverpool Property
With so much going on in the city, including a booming business industry and continuously growing numbers of students, Liverpool has seen a big increase in rental demand. As the economy continues to boom, house prices are rising and becoming too expensive for younger professionals, meaning that they are looking towards renting and even shared occupancy, creating great opportunities for investors. The house price growth is great for investors, not only in the way that it provides them with great opportunities for letting out property, but also the fact that their properties are constantly increasing in value, adding profit for when they eventually decide to sell up.