You know that the housing market’s worth looking at when it’s continually being talked about in mainstream news. In the UK, there’s been a tremendous increase in both housing market activity and house prices, seemingly being counter to conventional wisdom.
Yet, en masse, people are looking for new houses, cashing in on their own property price increases while also buying new homes at an increased price. It’s been hellish for first-time buyers, but seen as a chance to grab more equity for existing homeowners.
Being a famous major city, Liverpool has naturally been a hotspot for the housing market. While many headlines have cited city workers moving outwards due to the capacity of remote working, cities are still very popular. So, here’s how the Liverpool housing market is shaping up as well as the hotspots for buyers right now.
An overview of the Liverpool housing market
Liverpool has not been immune to the property price hikes of the last year or so, which has been acute over the last six months. Over the last six months alone, the average listing price for properties in Liverpool has increased by 41.56%. These newest housing market figures for the city show that this increase hasn’t led to an inactive market.
On average, it only takes ten weeks for a property to sell in Liverpool, with two, three and four bedroom houses selling the fastest. Perhaps what’s spurring the Liverpool market is that people recognise the wiggle room. Listing prices clearly aren’t hard figures, with analysts finding that asking prices are, on average, reduced by 0.6%. It’s a lively market with prices going up, but buyers are still being savvy in Liverpool. With eXp Solutions, you can now find homes much faster as it allows you to find your dream home in a more efficient and systematic manner.
The property-rental market in Liverpool is booming, with more landlords and tenants flocking to the city looking for the perfect rental home. Rentola offers a wide range of services designed to make the entire process easier and more efficient.
Where’s the action in Liverpool?
Formby
One of the most sought-after places to buy a house remains Formby, particularly due to the famed allure of Victoria Road, otherwise referred to as ‘Millionaire’s Row’. The likes of Jürgen Klopp, Wayne Rooney, Steven Gerrard and Alan Shearer have all called the area home, giving the area a certain shine. Likely seeking to capitalise on this, property developers are aiming to add another 286 houses to the north of Formby, with their clear, clean and quiet modern designs set to draw in more prospective buyers.
Toxteth
Another popular area of Liverpool, which has never been short on action due to the demographics that it appeals to, is Toxteth. Very popular among students and young professionals, the area’s property market has almost become tailor-made to offer first-time homes and especially a range of student accommodation. With fair weekly rates and its proximity to the city centre, parks, and many takeaways, Toxteth is a veritable paradise for the young.
Aigburth
Situated on the River Mersey, few would deny the appeal of Aigburth. It has been shown to particularly appeal to both young professionals and families because of its mix of parks, open spaces, trendy restaurants, and low-key bars. It’s these elements that cause holidaymakers to Merseyside to flock to the area when looking to rent.
The UK housing market is hot right now, and Liverpool is certainly pulling its weight. Places like Formby, Toxteth, and Aigburth continue to be prime locations for buyers and sellers in the area.
