Property in Liverpool

Property in Liverpool

Liverpool is a major city and urban population conglomeration in north western England. As a borough, it traces its history back nearly 800 years.

The city’s rise to prominence as major manufacturing center and port was in parallel with the industrial revolution. In the late 19th century, Liverpool would be an enthusiastic participant in the Atlantic slave trade and Antarctic sealing industry. In its heyday, the wealth of Liverpool city exceeded London. A good indicator of its hallowed status can be judged from the fact that it is the only British city ever to have its own Whitehall office. During the Second World War, the pivotal battle of Atlantic was planned, fought and won from Liverpool.
Liverpool is built across a ridge of sandstone hills which represent the southern boundary of the Lancashire coastal plains. Like rest of England, it has a temperate maritime climate with cool summers and mild winters.

Liverpool’s population peaked during the 1930’s and every census return since then has shown a decline in population. It has only been in 2011 that Liverpool’s population has started to grow again. The trend is expected to continue in future as Liverpool is one of the youngest cities in Britain – 42% of its population is under the age of 30. Ethnically, it is more homogenous than rest of Britain, with 84% of its population being white British. Although, being a port city, it is home to the oldest black and Chinese communities in Britain.

The city’s position as Britain’s most prominent and richest port enabled civic administrators of Liverpool to construct many grand civic buildings, which today attract tourists interested in neoclassical architecture to Liverpool. Commercial areas of the city are centred on castle street, Dale Street and old hall street. Many of the roads still follow their medieval layouts.

Liverpool is well connected by road and rail to rest of UK. Public transport facilities within Liverpool are extensive and well managed. They include buses, trains and ferries. Liverpool’s local rail network is one of the busiest in the country. The city is also served by an international airport.

The city of Liverpool is an important cultural center within England. In 2008, it held the title of European capital of culture. It is especially known for its music culture and is recognized as the world capital of Pop music.

Liverpool’s property market is especially lucrative considering that it is still down 23% from its pre financial crisis peak of 2007. The last year has been much better, with Liverpool overtaking Birmingham as Britain’s third leading city in attracting foreign investors.

Despite this, the average independent house is still affordable in Liverpool at £102,798 only. You would need to shell out a higher price for semi detached properties within five miles of the city center at £163,880. These prices are still quite low when compared to rest of UK which makes Liverpool an attractive destination for buyers looking to let and first time home buyers. It also means that buying is a cheaper option than renting, if you can raise a 10 percent deposit.