Over the next 12 months, rental costs in Liverpool and the rest of the Northwest are expected to rise. The demand for available rentals is higher than ever, as many first-time buyers are still hesitant to buy their first home due to the banking sector's rising interest rates.
A increase in demand from all over the city, with no indications of slowing down until beyond 2024, was detailed in a recently released quarterly report by reputable Liverpool estate brokerage, City Residential.
Given that the current vacancy rates are at an all-time low, it is impossible to imagine a scenario in which rents will start to fluctuate or drop. Any new supply is curtailed immediately, with demand still rising as we approach the most popular period in the year for new lets (May - July).
Although a potential recession and consistently high energy prices could have an impact on the market, it currently seems incredibly improbable that any of the city's most well-liked developments will have many empty periods.
After a difficult 2022, construction in Liverpool is truly on the rise. While the area continues to benefit from the post-pandemic expansion, several of the city's most prominent developers are observing a genuine demand from both first-time and investment buyers.
Liverpool has significantly lower prices than either Manchester or London, and with rental prices rising on a monthly basis, the city's predicted yields are now outpacing those of much of the UK.
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