Growth among cities in the UK crosses the mind of every discerning property investor keen to entrust their money in a secure, prosperous area.
Interest rates from the past decade have somewhat left the property market feeling uncertain at times, however we have entered a period of rapid revival, a market experiencing significant movement and one that is dominating the asset classes and showing huge promise for the future.
Property is the only asset that produces two different types of return, rental income and capital appreciation, therefore it seems the obvious answer when it comes to investment. Sourcing an affordable opportunity in London can be prove troublesome and Rightmove reports that the average flat in the capital is now a shocking £630,926, making investing in property increasingly more unreachable.
Casting your sights up North can prove to grasp greater opportunities with far more enticing prospects. Liverpool is a cultural beacon and the epicentre of regeneration. The city has been undergoing extensive revival since 2004, four years before the city was crowned European Capital of Culture, and the first pledge for development which helped Liverpool steal the limelight from other northern cities was the £1billion Liverpool One shopping complex.
The average property price in Liverpool city centre last year was around the £135,061 mark, which presented a six per cent rise from the previous year, painting an enticing picture for a savvy investor hoping to reap the benefits of an evolving city. Due to immense regeneration in the area, this has had a direct effect on house prices, capturing the attention of any investor wishing to seek great capital growth potential.
The new Fabric District takes its name from the area’s historic connotations with the textile industries located between Islington and London Road, and borders Lime Street and the Knowledge Quarter. Relatively undiscovered by investors, a vision has been established to label the area as a priority regeneration zone in a bid to trigger investment especially due to the increased interest from overseas investors, and job creation schemes as more and more companies are being formed as part of Liverpool’s thriving business sectors. In turn, this raises the demand for residential and student properties in the area.
RWinvest, Liverpool’s leading property investment company state,
“This regeneration is set to grow even further over the next 10 to 20 years. At the heart of these plans is the £1 billion that has been invested into Knowledge Quarter Liverpool, an academic hub already home to some of the world’s most influential players in science, health, technology, culture and education, including the University of Liverpool, Liverpool School of Tropical Medicine and the new £335 million Royal Hospital”.
The Fabric District has remained a hidden gem in Liverpool, disguised through the intertwining streets and buried among the multitude of independents keen to hold on to their diminishing heritage. A heritage which has been nurtured but adapted, to pave the way for the new vision.
Following precedents already set by other successful regeneration schemes within the city, such as the Baltic Triangle, Liverpool’s is almost unrecognisable from ten years ago and regeneration across this transforming city is setting the tone for a district unconfined by boundaries and limitless in terms of opportunity and innovation.