Speculate to Accumulate: Liverpool Living
Over the last ten years since being named the European Capital of the Culture, Liverpool has evolved into a completely different city, and as such so too has the recruitment for businesses within it. It has undergone a huge transformation, becoming one of the hottest places to live and invest in within the UK. Architecture and property ventures are on the rise and the city has become a hub of investment, with vast sums of money poured into it by countless investors. It has become a solid bet for profitable property endeavours and it is continually attracting more and more potential backers.
This is because Liverpool has a proven record of providing such good returns with average house prices rising by 19.6% in the past five years according to Hometrack, a property market analyst. Yields are also very high with Total Money placing Liverpool within the top three positions in its ranking of hotspots of UK buy-to-let. It has therefore become a haven for job opportunities in property and architecture.
The city centre acts as the hub of activity, with investors paying particular attention to central postcodes such as L1, L2 and L3 and areas such as the Albert Dock and surrounding waterfront or The Baltic Triangle. Investors know that by focusing on the city centre they can encompass a range of markets from university students to young professionals and more. Some of the impressive projects that are currently underway include Liverpool Waters, a £5 billion regeneration project on a stretch on former docklands. Or Strand Plaza, where some penthouse apartments within the 127-unit building are being marketed at £1.7 million in a prime waterfront location. There is also work due to start on a £200 million project in the heart of Liverpool’s city centre led by landscape architecture firm re|form which will focus on a series of streets within a 4.2 hectare site. It will include a 400,000 square feet of Grade A office space creating over 1000 jobs and a new 3000 square meters of ‘green space’ to promote health and wellbeing for residents.
So why Liverpool you may ask? What makes this area so exciting and profitable for those within the architecture industry and those investing in and selling property? Other cities such as Leeds or Manchester have seen bigger capital growth comparatively but overall Liverpool really offers developers value for money making it much more appealing for continued projects. The average house price within Liverpool comes in at £117,000 whereas for the rest of the country it is closer to £215,000 making property in Liverpool much more accessible and lucrative. It is a strong market and a strong market breeds capital and therefore produces strong prospects those within this industry. The Liverpool property market shows absolutely no signs of slowing down, with property group JLL predicting a further house price growth of 17.5% by 2021, and so it seems that the city will continue to go from strength to strength and we predict a continuous array of ambitious projects. It is certainly an exciting time to work within property and architecture within Liverpool.
Clifton Gray can help your architecture business recruit the best talent for your company. As recruitment specialists in your industry, located in central Liverpool, we are well placed to service your staffing plans. Get in touch for more information, we’d love to hear from you.