There are many fantastic places to buy a flat in Liverpool. Whether you’re an investor looking to profit from the staggering growth Liverpool is currently seeing or you want to stop renting and move into your own place, there’s plenty of places to consider before you make a decision.
In this article, we’re going to go over a few of the best places to buy a flat in Liverpool. During our research, we managed to narrow our list of neighbourhoods based on a few factors including:
- Distance to the Liverpool city centre
- General safety in the area
- Price and value for money
- Rental demand in the area
But before we get into the different locations, we first want to touch on a few reasons why we think (based on data) investing in a flat in Liverpool is a good idea.
Why Investing in a Flat in Liverpool is a Good Idea
As one of the fastest developing cities in the whole of the UK, Liverpool presents investors with the unique opportunity to profit on their investments both in the short and the long term. Each year, hundreds of thousands of students come to study in the city while tens of thousands of new young professionals make Liverpool their home. And what both of these parties have in common is that they’ll all need a place to rent.
According to recent data, rental demand in Liverpool has been growing exponentially while supply has been fairly limited. In other words, if you invest in a property in a desirable area, you can rest assured that your property will be rented out all the time.
And even if you’re not buying a flat to rent out, you can still benefit from the investment in the long term. As Liverpool continues to grow, property prices will go up over time so when you come to selling your property, cash house buyers and the market as a whole will be willing to give you more for your flat than what you initially paid.
5 Best Places to Buy a Flat in Liverpool
There are many great places to buy a flat in Liverpool, however, the five locations that we’ve shared below easily top the rest.
Liverpool City Centre
The Liverpool city centre is a prime location for flats, offering a vibrant urban lifestyle with an array of shops, restaurants, and cultural attractions. Flats in this part of town are very appealing to young professionals, students, and those who enjoy the convenience of living in the heart of the city.
Over the last year, flats in this part of town sold for £167,546, which is nearly half of the UK’s national average. This makes this part of town particularly suitable for investors looking to buy affordable buy-to-let properties and first-time buyers looking to secure their first home.
Known for its creative and digital industries, the Baltic Triangle has become a trendy and sought-after area for students and young professionals alike. In the area, you’ll find a mix of converted warehouses, modern developments, and a thriving arts and music scene.
Properties in this area sell for an average of £150,000 – £175,000. If you’re an investor, you can expect a yield of around 8%, which is quite a bit above the average for Liverpool.
The Georgian Quarter is a historic part of Liverpool that is home to some of the most stunning Georgian architecture. It’s mostly popular amongst professionals and families though there are often younger people found to reside in the area too. The area is filled with picturesque streets, green parks, and is in close proximity to the Liverpool city centre (just 0.8 miles away).
Whether you’re a first time buyer or a property investor, you won’t go wrong with exploring your options in this part of town. Over the last year, the average flat in the area sold for around £285,194, which is a bit more expensive than other parts of Liverpool, but it’s definitely worth it.
The city of Liverpool sits on the Mersey River, making it a unique and desirable spot for people who want to live in a big city and be close to the water at the same time. And one of the best parts of the city for buying flats is indeed the Liverpool Waterfront.
The area offers a fantastic view to the Mersey River while still being in very close proximity to Liverpool ONE and the Liverpool city centre. Flats in this area are more expensive, averaging at around £500,000, but considering what you get in return, it’s easy to see why properties get bought out quickly here.
As far as safety is concerned, the Liverpool Waterfront is one of the safest parts of Liverpool, which is many due to its location and the type of people that live in the area.
Situated to the East of the Liverpool city centre (a 2-10 minute walk to the centre depending on where you’re located), Knowledge Quarter is an area that is popular for everyone ranging from students to young professionals. It is also home to the University of Liverpool.
The average one bedroom flat in the area will set you back around £150,000, while the average two bedroom flat can cost you upwards of £200,000. What’s interesting about this area is that the rental yield is generally quite high, hovering at around 7-9%.
In terms of safety, the Knowledge Quarter is a very relaxed part of Liverpool. There is hardly any crime going on in the area, making it the perfect place to buy a flat to live in or rent out.
Whether you’re buying a flat for yourself or as an investment, buying one in a good area of Liverpool is essential for long and short term profitability. While there are a handful of fantastic areas to buy flats (as listed above), there are more than enough areas in Liverpool that you should avoid if you want to make the best investment. So, consider our recommendations from above, explore the market, and hopefully you’ll find a flat that’s worth your money.