Gateway City Liverpool Property Grew 7.5% Year on Year
Liverpool Property Prices
The Hometrack index suggests property prices in Liverpool grew at 7.5 per cent y-o-y to August. The other cities where the rates were higher are Glasgow, 7.2 per cent and Nottingham, 6.9 per cent. These were the most affordable regions where the average price of homes reached 2007.
The growth in oil prices, sterling volatility, and Brexit impact led to volatility in home prices. In addition, increasing borrowing costs and higher mortgage and interest rates made it difficult for buyers to pay for housing. The reports by Hometrack claim people need to earn 24 per cent more than they did three years ago to pay for higher home prices in cities such as Manchester and Bristol.
In London, first-time purchasers must save £84,250 to get home. The calculation was based on repayment mortgage for the 30-year term and borrowing less than four times the income, where about 30 per cent is spent on the mortgage.
Gateway Cities
Some regional cities are popular with foreign investors. For example, Dubai investor Select Group acquired property at Reach in Liverpool, the Echo building, for an undisclosed sum. They made the deal via Savills and Paradigm Property Management.
The group said the city is expected to deliver long-term growth. Barings Real Estate acquired 240 unit properties at Queens Dock in Liverpool for approx. $60 million. The company's MD, Darren Hutchinson, said the transaction provides a well-located riverside asset.
The company plans to expand in multi-family sections in other global cities. It plans to increase logistics, student accommodation and mixed-use projects. The Chief Investment Officer Moorfield said they invested in two properties in Manchester and one in Newcastle.
Scope for First-Time Buyers
In the UK, millennials are looking for a buy-to-rent option in cities where they do not need to spend longer commuting. For example, a two-bedroom flat in Hong Kong can cost up to £1,280,000 (according to research on 91 cities by the website Finder listing).
London was the second typically costly after Hong Kong, with an expected cost of £788,000 per unit. The UK was placed in 16th place where the median cost of a 2-bedroom flat was £227,000. Manchester's average price is £144,000, and as per data, buyers can purchase five apartments in Manchester at the price of one flat in London.
It makes Manchester appropriate for first-time buyers seeking low-cost investment in the UK property market. Similarly, the average price of a two-bedroom flat in Liverpool was £294,000.
The Midlands and Yorkshire are rated some of the best, in terms of value, per Manning Stainton data research. In addition, cities such as Bradford, Leeds, York, Nottingham, and Leicester are well priced.
For first-time buyers, the northern city of Bradford offers an average price of £133 per square foot, Belfast's average rate is £140 per square foot and Liverpool's £162 square foot. As a result, many first-time buyers are relocating to other cities as the house prices are six times higher in the capital city compared to regional cities.
To know more about UK properties, click Hamilton International Estates.
GET IN TOUCH
Contact Our Team
Call:
+44(0)1628 397840
Email:
info (@) hamiltoninternationalestates.com
Visit Our Office
Address:
Chiltern House Business Center
64 High Street, Burnham
Bucks - SL1 7JT
United Kingdom
View On Map >>
Sign up for exclusive access to our property developments
Why Hamilton International Estates
We strive to deliver a personal service for all of our clients
Why us
Our standard is also a measure of the perfection that we strive to achieve in everything we do. Our professional property consultants have cumulatively acquired over 25 years of experience in providing the perfect property development opportunities for all our clients..
What we offer
Hamilton International Estates specialises in property development opportunities. We have a wide range of property developments, ranging from; residential and commercial property. The Hamilton International Estates Standard is the benchmark of our excellence by which we judge ourselves.
Our Role
We build genuine partnerships with our customers and use our intellect to help our clients reach their goals. Our role is to connect buyers and sellers across the world and we offer our clients a number of different assets that they can purchase, retain and profit from.
Our Clients
Our client base is formed of people across the globe who wish to diversify their portfolios as well as purchase and profit from a variety of different assets. Our experience aids us to tailor our services to meet the needs of all our clients.
Disclaimer - Hamilton International Estates is acting as an agent in marketing products and services for many other companies. Hamilton International Estates is not authorised to give investment/tax advice and you should seek independent financial and legal advice prior to making any investment decision. All forecasts are based on historical performance and are purely indicative. The value of your property may rise or fall. No guarantees as to future performance in respect of income or capital growth are given either expressly or by implication and nothing expressed or implied should be taken as a forecast of future performance. This is not an offer to participate in a collective investment scheme as defined in the Financial Services and Markets Act 2000 (section 235) and as such buyers have no access to statutory or regulatory protections including the Financial Ombudsman Service and the Financial Services Compensation Scheme. Hamilton International Estates is not regulated by the FCA and is not authorised to offer advice to the general public concerning any regulated or unregulated investment. Although every care has been taken to make sure that the information in this brochure / website is accurate, Hamilton International Estates cannot accept any responsibility for mistakes or omissions. You should take your own professional advice before taking or refraining from any action based on the contents of this brochure / website which are only intended as a general outline to the matters referred to in it. All content, product description and illustrations in this factsheet, brochures and website are purely marketing material provided by the companies that we work as agents for. Hamilton International Estates registered address Chiltern House Business Center, 64 High Street, Burnham, Bucks, SL1 7JT, United Kingdom, Company Registration Number 10767032 is a sales and marketing agent.