These findings echo a similar sentiment found in the Aldermore Appeal Index. The index revealed that people favour the North West over any other area in England regarding property purchases.
Cities in the North West are known for strong rental yields and affordable housing. According to the HM Land Registry UK House Price Index, Liverpool’s average property price is £180,268, with the best Liverpool property investments potentially seeing rental yields of around 7% or higher in certain postcodes.
By contrast, the UK average house price is £291,044, and the average rental yield hovers around 5.2%.
In addition, Liverpool has a burgeoning economy, thanks to massive regeneration in the Knowledge Quarter and Baltic Triangle and development schemes like Liverpool Waters.
These regenerative efforts have led to an increase in city centre accommodation, with properties like Element The Quarter (Liverpool’s first eco property) and the upcoming Gateway (Liverpool’s answer to New York-style living) leading the way for luxury city living in desirable UK buy-to-let hotspots.
The findings from Benham and Reeves show a considerable increase in activity in Liverpool and Manchester, suggesting the North West’s buy-to-let benefits sway landlords.
In the North West, Liverpool and Manchester property investment saw a 37% and 39% increase in purchases between 2020-21 and 2021-22.
