House price growth and increasing demand in Liverpool, Leicester and Manchester’s property market make now the most lucrative time to invest.
These three buzzing English cities have thrived in recent years, with their economies becoming bigger, stronger, and more diverse than ever. As a result, an increasing number of residential property investors and first-time buyers alike have been pulled towards these prime city locations, in place of the rising costs and shrinking yields of southern cities.
But what key factors have led to the resurgence of these three premiere cities? What do they offer to residents and investors that sets them apart from other regional hubs? And what lies on the horizon for the future of each city’s economic growth?
Richard Forman, our Head of Sales and Marketing, investigates the answers to these pivotal questions in our new white paper; A tale of three cities.
Setting the scene
Thanks to the success of proactive local councils in attracting inward investment from the private and state sectors, Leicester, Liverpool and Manchester are seeing growth in a variety of highly skilled industries. This acts as fuel for the growth of a dynamic jobs market, attracting skilled graduates from the region’s pool of large universities, as well as young professionals from across the country.
In addition, the emergence of revitalised city centres with fantastic shops and vibrant evening economies goes hand in hand with a wider trend towards city living, catering to a newer, younger, demographic.
The net result is rising property values in Liverpool, Leicester and Manchester, mirroring the upward trajectory of their economies. (See our blogs covering investment in these three cities to find out more). Each of these three cities is now overtaking the level of growth and sales seen in London, boasting much faster house price growth rates. This makes them perfect locations, whether you’re an investor or an owner occupier.
Five factors this white paper calls attention to:
- Existing housing stock is failing to meet the needs of the market, pushing up city centre apartment prices
- The three cities’ vibrant and diverse jobs market is attracting skilled workers
- Inward investment initiatives are driving the cities’ economies upwards
- Transport investment is an important catalyst for economic growth
- Timing is imperative
The growing popularity of city living is leading to a noticeable increase in the demand for rented accommodation, however, the housing market’s supply is failing to keep pace with this huge demand for rental. Among this demand is a sizeable demographic of young professionals who are drawn to these regions leading universities and booming economies. This group has a clear appetite for high quality, centrally located apartments, with a vibrant evening economy on their doorstep to compliment a modern lifestyle.
The housing market in London is overheated and cooling fast but, as this report shows, the picture could not be more different in the Midlands and the North. A rebalancing of the economy and the housing market in England is long overdue and we believe that we are now starting to see this happen.