Events

Future Renting North: Spotlight on Liverpool

Sally Walmsley
Written by Sally Walmsley

Liverpool is a rapidly transforming city with major regeneration activity taking place.

Liverpool is often cited as the country’s best city for buy-to-let yields, with figures released by TotallyMoney last year showing the top three most profitable postcodes in the UK to be in Liverpool.

Liverpool’s L7, L6, and L15 postcodes came out top of the pile following an investigation which analysed more than 500,000 properties listed for sale and to rent in October 2017 and overlaid average rents, asking prices and buy-to-let yields.

The city’s performance is largely attributed to a combination of low average house prices, and strong rents.

Demand is also high, with Liverpool home to 50,000 undergraduate students and 10,000 postgraduates (accounting for around 15% of the city’s total population) as well as rising numbers of graduates and young professionals.

And, according to real estate giant JLL, house prices are set to increase by 22.8% between 2017-2021 with rents set to increase by 17.6% over the same period.

Robert Hogarth JLL Residential, North West said: “Liverpool is a rapidly transforming city with huge amounts of regeneration activity taking place.

“The city continues to outperform other regional cities in terms of rental and capital growth and is now firmly at the top of many investor’s hit lists.”

But while building continues apace not everything is rosy for landlords in Liverpool – and its private rented sector is not all high-end dockland apartments for young professionals.

In 2015 Liverpool City Council introduced a controversial city-wide city licensing scheme in response to what it said were concerns “about a number (of landlords) who rent properties that fail to meet satisfactory standards”.

Landlords have to pay a licence fee for every rented property, with around 50,000 homes affected.

The cost of each five-year licence is £400 for first property, £350 for all others. The RLA runs a co-regulation scheme with Liverpool City Council which sees the fee reduced to £200 per licence for members.

Licensing is one of a number of issues to come under the microscope at the RLA’s Future Renting North conference on Tuesday.

Held at the city’s Concorde Conference Centre on Tuesday, April 24th, it promises a packed programme of presentations from a range of property experts focussing on the future of the PRS in the North, covering topics as diverse as tax and property tech.

There will also be a presentation by Merseyside Fire and Rescue on fire safety post-Grenfell.

For more information and tickets visit our conference pages.

About the author

Sally Walmsley

Sally Walmsley

Sally Walmsley is the Communications Manager for the RLA and Editor of RPI magazine. With 16 years’ experience writing for regional and national newspapers and magazines she is responsible for producing articles for our Campaigns and News Centre, the weekly E-News newsletter and editorial content for our media partners.

She issues press releases promoting the work of the RLA and its policies and campaigns to the regional and national media and works alongside the marketing team on the association’s social media channels to build support for the RLA and its work.

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