Investors in the Liverpool property market have an exciting year ahead of them, with an array of fantastic new opportunities for investment abounding across the city.
This is the view of some of the region’s local experts, with Liverpool property guide Your Move showcasing the 2018 outlook for Liverpool’s housing market.
Rise in prices due to growing demand
One of the standout developments that is expected in Liverpool this year is a rise in overall house prices, as demand for new homes continues to outstrip the level of supply in many areas.
Indeed, branch manager at Liverpool-based estate agent Keppie Massie Residential Debra Beach states buyers continue to be attracted to the Liverpool market due to a combination of factors, including ongoing low interest rates and an increase in choice within the mortgage sector.
Moreover, she adds that overseas buyers remain attracted to the UK property market as a result of weakness in the pound, and with a wide range of property types available across the city, Liverpool is excellently positioned to take advantage of this fact.
Positive economic outlook for Liverpool and the UK
Across the country, the UK economy continues to buck speculation of a concerted downturn as a result of the ongoing uncertainty surrounding Brexit negotiations with the EU. As a result, rising positivity in the economic outlook is helping to create greater confidence among the nation’s property buyers.
In Liverpool, partner and head of residential property at MSB Solicitors Tracey Quirk argued that this positive mindset will help drive growth in many parts of the city, with strong job prospects and new developments springing up all the time.
A commitment to high-quality homes remains strong
Finally, Liverpool continues to benefit from the development of high-quality homes to meet the burgeoning demand of an expanding city, and this is a trend that is only set to increase in 2018.
Dave Smith, managing director of St Modwen Homes, told Your Move that his company continues to see major opportunities for new-build projects across Liverpool and argued that the government’s recent changes to Stamp Duty to better support first-time buyers will only be good news for the city.
He stated: “Going into 2018, we don’t expect to see the market slow down, as the requirement for quality new-build homes in the Merseyside area remains high.”
Overall, the positive sentiment surrounding the 2018 outlook for Liverpool’s property sector should continue to drive investment into this vibrant city. Individuals keen to get on board with the latest investment opportunities in the area should therefore act fast.