The property market in Northern England has become a beacon for investors, with cities like Liverpool, Leicester, and Cleveleys leading the way. These locations are seeing strong growth, affordability, and high rental yields, making them ideal for those looking to maximize returns.
Liverpool: Affordable Prices and Rising Demand
Liverpool is emerging as a prime spot for apartment investments in 2024. With its rich cultural scene and sports heritage, the city offers significant value in the apartment market. The average price for an apartment in Liverpool remains affordable, significantly lower than the national average, making it attractive for investors. Apartments in key areas like the city center and waterfront developments are in high demand, especially among young professionals and students. Liverpool’s ongoing regeneration and economic growth further boost its appeal for buy-to-let investors seeking rental yields and capital growth.
What makes Liverpool even more attractive to investors is its continual regeneration efforts. Areas like the Cains Brewery Village and the Knowledge Quarter are undergoing transformation, bringing new businesses, retail spaces, and housing. Liverpool’s growth is further supported by the city’s sporting infrastructure; both Liverpool FC and Everton FC are expanding their stadiums, injecting even more investment into the local economy.
Property prices in Liverpool rose by 8% in 2023 compared to the previous year, and there’s no sign of this slowing down. This is a city where demand for housing is on the rise, making it an ideal location for buy-to-let investors looking to secure high rental yields. Liverpool is also home to a large student population, with over 70,000 students across its universities, adding to the rental demand.
Leicester: A Thriving Hub with High Rental Yields
Leicester is another city gaining attention from investors. As one of the UK’s most culturally diverse cities, Leicester has a unique blend of historical charm and modern developments. The city’s property market offers affordability combined with a high rental demand, particularly due to its large student population and thriving business sector.
The average apartment price in Leicester offers strong investment potential, especially compared to southern cities. Rental yields in the city are particularly appealing in areas near De Montfort University and the University of Leicester, where demand for student accommodation is high. Leicester’s central location, with excellent transport links to major cities like London, Birmingham, and Manchester, has made it a hotspot for professionals seeking affordable apartments while maintaining easy access to key business hubs. This growing demand makes Leicester’s apartment market a key area for investment.
Leicester’s economy is also strong, with significant growth in industries such as manufacturing, technology, and retail. The ongoing regeneration projects in the city center and surrounding areas are boosting property values, making it a great location for capital growth.
Cleveleys: Seaside Tranquility with Investment Potential
For investors looking for a quieter, more relaxed environment, Cleveleys is a hidden gem. This seaside town, located near Blackpool, offers a unique combination of affordability, lifestyle, and steady property value growth.
The average property price in Cleveleys is around £200,000, making it an attractive option for investors seeking affordable coastal properties. Over the past few years, the town has seen an increase in demand, particularly from retirees and families looking to escape the hustle of urban life. Cleveleys offers stunning beaches, excellent local amenities, and a peaceful lifestyle, while still being close to larger towns and cities such as Blackpool and Preston.
While it may not offer the same rapid price growth as cities like Liverpool and Leicester, Cleveleys is a solid choice for long-term investors. Its appeal to both holidaymakers and long-term residents ensures steady demand for rental properties, particularly during the summer months. This, combined with relatively low property prices, presents an excellent opportunity for those looking to invest in a seaside town with strong rental potential.
Why Now is the Time to Invest in the North
Northern England presents a unique opportunity for property investors in 2024. With affordable property prices, strong rental demand, and ongoing regeneration projects, cities like Liverpool, Leicester, and Cleveleys offer a blend of short-term rental income and long-term capital growth potential.
In Liverpool, house prices have risen by 8% in the last year, with continued regeneration and investment making it an attractive option for both local and international investors. Leicester offers high rental yields, especially in its student housing sector, making it a great choice for buy-to-let investors. Meanwhile, Cleveleys provides a more tranquil investment opportunity, with affordable seaside properties that appeal to retirees and families.
For those looking to diversify their property portfolio or take advantage of the North’s rising market, these three locations provide excellent opportunities for growth and income. The time to invest in the North of England is now, before property prices continue to rise and competition increases.
