Uncertainty about house prices seems to be a constant headline of late in media circles but that’s a national trend not a Liverpool one as Helen Griffin-Booth will tell you.
The Bluerow Homes founder and managing director maintains that house prices in Liverpool rose higher than the national average in the last 12 months.
“Yes properties in the city are more affordable so we’ve room to be seeing growth at least one percentage point above the national stats. It’s also enabled an upward trend over the last five years with prices increasing by 46% as recorded by the Land Registry.
“For perspective though, average prices in Liverpool are 41% lower than the national average. And those buyers in the market for ‘prime property’ would typically need a budget of £345,00 compared with £619,000 nationally.
“That’s incredible value given the quality of life and standard of living that can be enjoyed here…yes, Liverpool amazingly to outside investors still is a bit of a secret despite the double digit growth of house prices over the last 12 months.”
Price rises have been driven by strong demand for homes in the city matched by a relative lack of supply. The same can be said about the rental market in Liverpool with prices for apartments increasing by 9.5% and house rental prices up by 10.5% in the 12 months to July 2022. 90% of properties let in the city in the last year were apartments.
“It’s a really vibrant city centre right now”, says Helen, “buoyed on by the prolific number of young tenants with more than 70% aged between 18 and 29 compared with just over 50% across the North West. Aside from the critical mass of leisure, It’s also an easier city to get around with 36% of residents walking to work compared with just 11% in the wider region.
