Liverpool

Why buy in Liverpool

Comparatively low property prices and a great sense of community make Liverpool an attractive place to buy a property.

Liverpool is located on the eastern side of the Mersey Estuary and a major port city. Liverpool is a city and metropolitan borough in Merseyside.

Liverpool is famous for being the birthplace of The Beatles, widely regarded as the most influential pop group of all time. Because of this, much of the city’s tourism is centred around the ‘fab four’.

Some of the reasons to buy in Liverpool are its:

  • affordable property prices

  • massive regeneration over the past 20 years

  • links to The Beatles and other notable pop acts such as Gerry and the Pacemakers, Elvis Costello, OMD, and Echo and the Bunnymen

  • friendly but fierce rivalry between Liverpool and Everton football clubs

  • Albert Docks and the River Mersey

  • ‘Scouse’ sense of humour

  • proximity to beaches such as Formby, West Kirby and Crosby

  • Tate Liverpool art gallery and museum

  • Merseyrail underground and commuter transport network§

Liverpool property

Liverpool is consistently one of the cheapest cities in the UK to buy a property, making it accessible to first time buyers as well as homeowners moving up the housing ladder. Student and tourist numbers make it a good bet for landlords too.

In Liverpool there were around 232,100 residential properties as of 31 March 2020¹. 

Here’s a rundown of the number of properties in Liverpool by property type:

  • detached – 11,650

  • semi-detached – 52,130

  • terraced – 97,830

  • flat/maisonette – 63,660

  • bungalows – 6,250

Liverpool house prices

House prices in Liverpool have fallen 1.51% over the past 12 months.²

Over the past year, flats in Liverpool sold for an average of £155,095 and terraced houses for £123,955. 

The average house price in Liverpool in July 2021 was £162,259, which is a lot less than the UK average of about £255,535.³

In Liverpool the average property price for a:

  • detached house is £319,001

  • semi-detached house is £198,618

  • terrace house is £141,916

  • flat is £125,097

This information was updated in September 2021.

The cost of living in Liverpool

Living in Liverpool is relatively cheap compared to living in other UK cities such as Manchester and London.

Here are some examples of how much things cost in Liverpool:

  • 8Mbps internet (1 month) – £22

  • monthly travel pass – £54

  • regular cappuccino – £2.93

  • 1 cocktail in a club – £8

  • city centre gym membership – £21

  • theatre seat – £40

This information was updated in September 2021.

First time buyers in Liverpool

Liverpool’s low house prices make it relatively easy for first time buyers to buy in the city. 

It’s in the top 10 most affordable areas for first time buyers in the UK in 2021, based on the average monthly mortgage payment as a percentage of income.

In July 2021, the average house price for first-time buyers in Liverpool was £143,479. This is significantly lower than the £226,474 average in England

Buy to lets in Liverpool

Liverpool offers lots of opportunities for investors wanting to buy a home to rent out to tenants. 

Low house prices make it affordable for landlords to invest in property. As well as that, a growing economy, improved infrastructure, and ongoing investment make Liverpool an attractive place to live.

The estimated rental yield for a buy to let property in Liverpool in 2021 is 4.62%, placing it in the top 10 UK cities for rental yield. 

Liverpool is home to the University of Liverpool, Liverpool Hope University, and Liverpool John Moores University – so there are tens of thousands of students to rent property to. 

The city is also popular with tourists, which means a thriving market for holiday accommodation.

You will need to make sure you have the right kind of mortgage if you decide to rent your property out. Find out more in our buy to let and landlord guide.

New builds in Liverpool

Buyers tend to pay a premium for newly built homes compared to older properties.

In May 2021 the average cost of:

  • a new build in Liverpool was £226,271

  • an older property in Liverpool was £153,251³

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Lark Lane is just south of the city centre and is a popular spot for students and young professionals. It offers an eclectic mix of restaurants, as well as plenty of pubs and bars.

The city centre’s proximity to Sefton Park also makes it a good option for families. 

With heaps of tourist attractions on offer, many with a Beatles theme, people in the area will find it difficult to run out of things to do.

Crosby is just north of the centre of Liverpool, offering property buyers the chance to be near the sea while only being about 20 minutes from the city centre on public transport.

Crosby Beach is the beginning of the 22 mile Sefton Coastal Path and boasts views across the sea to Wirral and North Wales hills.

From the beach, you can see container and cruise ships heading for the port of Liverpool, as well as the Burbo Bank offshore wind farm.

Anfield is famous for being home to Liverpool Football Club. The stadium is currently being expanded to increase its capacity to about 61,000.

The area is a hotspot for football fans and young professionals alike. 

A £260m regeneration project saw the refurbishment of more than 300 previously derelict homes. 

This area of Liverpool is home to two cathedrals (Liverpool Cathedral and Metropolitan Cathedral) that sit at either end of Hope Street.

Hope Street is also home to some of the best bars and restaurants in Liverpool, including the Quarter, Papillon, London Carriage Works, Pen Factory and the Philharmonic Pub. 

The area boasts the Liverpool Philharmonic Hall which is home to the Royal Liverpool Philharmonic Orchestra. 

If theatre is more your thing, the Everyman Theatre is in the Georgian Quarter too.

Liverpool’s answer to London’s Shoreditch, ‘The Baltic’, is one of the coolest spots in Liverpool. 

At just a 15 minute walk from the city centre, the triangle is a great area for celeb-spotting, street art, quirky bars, street food, hipster coffee shops, and vintage markets.

There’s plenty to do including Ghetto’s Golf, Bongo’s Bingo and board games at Sugar and Dice.

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Sources

¹ Council Tax Stock of Properties (Valuation Office Agency (VOA)

² Zoopla

³ HM Land Registry 

Cost of Living in Liverpool. Updated Prices Jun 2021. (expatistan.com)

Most & Least Affordable Locations for First-Time Buyers - Property Notify

UK Rental Market Statistics - 2021 Report | InventoryBase