Steeped in history, culture and a general vibrant feel to the place, Liverpool is a thriving metropolis and one of the most exciting cities in the UK. With a young population, a growing reputation as a tech hub and investment flooding in, the city has a lot to offer for those looking to add to their property portfolios. Here are just some of the reasons we think you should consider investing in this Northern Powerhouse city.
Strong Property Market
With traditionally low prices and a variety of new housing developments across the city, Liverpool’s property market is buoyant at the moment. There are many reasons why Liverpool offers such great value for both residents and investors. As is typical with much of the North, prices in the city are considerably more affordable than property in the south, particularly London – the average price over the last year being £145,349.
Transportation infrastructure is also good and is set to improve further. Via train, you can travel almost anywhere you could want to – you can take the TransPennine Express to Manchester or Newcastle from Liverpool Lime Street station, and getting to London is just two hours away with hourly services.
The city is also served by Liverpool John Lennon airport, which handles over 5.3million passengers each year, travelling to 68 destinations across the UK and Europe. Living in Liverpool offers the choice between city centre living or more rural locations, with both countryside and coastal options available. And when it comes to lifestyle, Liverpool can’t be beaten.
The Beatles. Need we say more? Well, we will anyway. Because as much as the Fab Four are universally accepted as one of the greatest bands of all time, they’re just the tip of Liverpool’s cultural iceberg. Being a port city, it’s natural that it has become a cosmopolitan cultural hub. Named the World Capital City of Pop by Guinness World Records, Liverpool is well-versed in music, with a buzzing live scene and many notable acts (aside from the aforementioned) emanating from the city.
Film has played an equally big part, with Liverpool being the most filmed location in UK outside London. Films from classics like Chariots of Fire to Hollywood box office smashes such as Captain America: The First Avenger and Harry Potter and the Deathly Hallows: Part One have been filmed in the city. It has also doubled on the big screen as Chicago, London, Moscow, New York, Paris and Rome. This is due in part to the city’s array of stunning architecture, with several areas of the city centre being granted World Heritage Site status by UNESCO in 2004.
The city also boasts an impressive collection of major museums and art galleries – more than any other UK city outside London. And when you’re talking about culture in Liverpool, one of the strongest is the football culture. Home to two Premier League teams, Liverpool FC and Everton FC, Merseyside derbies are some of the most electric in the league. It’s not surprising that all this creativity is translating into innovative businesses and start-up tech companies growing across the city.
Tech and Creative Hub
This is a city with creativity in its DNA. The Baltic Triangle area is home to the Liverpool’s new Tech City, which is set to rival London’s for innovation, investment and reputation. Companies within the creative industries, from games developers to ad agencies, are flocking to the port city to set up base or open new offices. They in turn are attracting a new tribe of smart and entrepreneurial-minded young people, with creative skills and tech knowledge.
Young and local talent is also being cultivated in the city. Mercia Technologies partnering with two of Liverpool’s major universities, Liverpool John Moores University and the University of Liverpool, to help new spin-off enterprises get off the ground in the area. With a flourishing start-up culture and investment pouring in, the creative industries are contributing millions to the region’s economy.
And it’s not just these emerging industries that are driving the local economy. A combination of traditional industrial heritage and thriving tourism industry are driving the local economy. According to the latest government data, its regional economy is one of the fastest growing in England. In fact, output in the city has increased by 39% in the last decade!
Liverpool is also a base for many major companies including Jaguar Land Rover, Maersk, Barclays Wealth, who are investing heavily in the city. And then there’s Bibby Line, one of Liverpool’s oldest major companies, who combine two of the city’s longest standing industries: maritime and financial services.
With so many cultural attractions, Liverpool is the fifth most visited city in the UK. This steady stream of tourists brings over £1 billion to the local economy every year. The city’s economic growth is buoyed further by the proposed Northern Powerhouse, which is drawing even more investment to the area.
Lots of Investment
Over recent years, Liverpool has seen a vast amount of investment, from the £1 billion regeneration of the city centre to create the Liverpool ONE shopping centre, to the £87 million spent developing the Baltic Triangle area. And with so much interest from foreign investors in Liverpool as part of the Northern Powerhouse that level of funding is set to continue.
The city’s transport links are set to be significantly improved over the next few years. Aside from the exciting possibility of being linked to the HS2 trainline, the Liverpool city region will benefit from a £340 million upgrade to the current train network. The city’s port will also undergo a massive redevelopment. As well as talk from new mayor, Joe Anderson, of a new metro ferry, Peel Ports Group will be pouring £300 million into building a new container terminal.
If you enjoyed this article and are thinking of investing in Liverpool, then you might find our 11 Facts about Liverpool useful and fun also.