Thanks to its many universities and ever growing population of students, Liverpool has become a prime location for buy-to-let investors. If you’re looking to buy a property with the goal of renting it out to students, you’ve got to make sure you buy a property in an area desirable to students.
In this article, we’ll go over the best areas for students to live in Liverpool, what students look for in their accommodation, and other relevant information you should be aware about. By the end of this read, you’ll have a crystal-clear idea of where you should buy your next student accommodation investment property in Liverpool
Best Areas for Students to Live in Liverpool
There are dozens of areas all over Liverpool popular for students. But if you want to make the most out of your student accommodation, purchasing a property in a prime location is vital. Below, we’ll go over the four different locations that students of Liverpool prefer the most.
Liverpool University Area
Students like to live in close proximity to their university. That way, they can get out of bed and reach their lecture hall in a matter of 10-15 minutes. So, one of the most prime locations for student accommodation is around the university. Since there are seven different academic institutions for higher education in Liverpool, deciding on which university to capitalise on can be difficult.
We would suggest that you stick to buying a property around the main three universities, which are University of Liverpool, John Moores, and Hope University.
One of the most interesting and popular student locations in Liverpool is Wavertree. This area is known for hosting many students, as a result of which, it’s packed with bars, shops, and restaurants. If you’re an investor looking for a prime location, you can’t go wrong with Wavertree.
This location is also popular because it’s reasonably close to most universities. While it isn’t within walking distance like the Liverpool University Area, it makes up for it by offering so many activities to students living nearby.
Similar to Wavertree, the Baltic Triangle is a place filled with life. Restaurants, bars, live music venues, you name it, the Baltic Triangle probably has it. As a result of the many things constantly going on, it’s a popular residential area for students who are looking for a whole lot of fun.
On top of that, the Baltic Triangle is within walking distance of the Liverpool City Centre and the many different universities in the city.
Liverpool City Centre
If you’re looking for an area to buy a student accommodation, you simply can’t go wrong with the Liverpool City Center. Everything a student may ever want is just a minute’s walk away, making it a popular choice among students.
With that said, property prices in the area can be a bit steep, so be prepared to invest a larger chunk of money than you would should you decide to go with any of the above-mentioned areas.
What Does the Liverpool Rental Market Look Like?
Thanks to the tens of thousands of students living in Liverpool, the demand for student accommodation is higher than ever. So if you’re looking to purchase and rent out student accommodation to students in Liverpool, now is a great time to do so.
Though property prices have been rising in Liverpool (around 13% in the last year), property prices still remain relatively low compared to other key locations in the UK. Should you decide to invest in student accommodation, you’ll not only benefit from the rent the property will generate but the growth in value the property will see in the coming years.
And should you want to no longer be a landlord, it’s easy to sell a tenanted property. All you’ve got to do is work with a trusted estate agent such as WeBuyAnyHome. We can make the process smooth and completely hassle-free for all parties involved.
How Many Universities Does Liverpool Have?
One of the main reasons why Liverpool is considered a city of students is primarily due to the large number of universities within the city. In Liverpool alone, there are a total of seven universities, including Liverpool University, Liverpool John Moores University, Liverpool Hope University, Liverpool School of Tropical Medicine, Liverpool Institute of Performing Arts, Hugh Baird College, and The City of Liverpool College.
Not to mention that not so far out of Liverpool, we also have Edge Hill, which is a university hosting tens of thousands of students during any given academic year.
What’s more, all of the above-mentioned universities are ranked relatively high, making them an attractive choice for many young people from all over the UK and the world. As a result of the many universities, tens of thousands of students currently live and will live in Liverpool for the years to come.
How Many Students Are There in Liverpool?
It is quite tricky to say how many students are currently in Liverpool – mostly due to the large number of universities in the city. However, according to a rough estimate, there are around 42,000 students currently living in Liverpool.
Additionally, the number of students in the city has been steadily rising in recent years, meaning that the demand for rental properties, especially in the city center has been increasing. In other words, if you’re looking to purchase a property with the intention of renting it out to students, now is a great time to take action.
What Do Students Look For in Accommodation?
Before you invest in a property with the intention of renting it out to students, you’ve got to consider their needs. That way, your property will be a lot more lucrative, easier to rent out, and in many cases, students will be willing to pay more for rent if it checks all their boxes. There are two key things students look for in accommodation, and below, we’ll go into more detail about each one.
Price of Rent
One of the key things to consider is the price of the rent. The large majority of students either don’t work or work part time, meaning they are often tight on money. That’s why most students take the price of rent very seriously. To make your property a good option for students, consider pricing it on the lower end.
Students don’t only go to university to study. They also like to go out and drink with their friends, go to the gym, cinema, and other activities. As a result, you’ve got to make sure that the location of your investment property is in close proximity to all of the above and more.
With all that in mind, you’ve also got to make sure that the property is as close to all major universities as possible. That way, your tenants won’t have to walk for miles to get to their lectures. This is a big plus for students.
Where Should Students Live in Liverpool?
With its seven universities and tens of thousands of students actively living and renting in Liverpool, the city on the Mersey river has become a fantastic location for investors. If you’re planning on purchasing a property with the goal of renting it out, there are a few things you need to know in order to make the most out of your investment.
Some of the things you should pay the most attention to include buying a property in locations of interest to students, and keeping the rent on the lower end so it is affordable (it’s a great way to generate demand).