26 Aug

“Ready made Let” in Liverpool City Centre

A one bedroom apartment in the Baltic Triangle is on the market with City Residential. It was listed in July so I’m very surprised it hasn’t been snapped up!

The apartment is positioned in a brilliant location, near Liverpool One and the Albert Dock. It’s sold as a furnished unit with tenants in situ paying £575 PCM , offering a gross yield of 8.1%. The apartment looks spacious and well looked after so even if the current tenant decided to vacate, you wouldn’t struggle to re-let. The Baltic Triangle is a thriving and exciting area that I think will continue to be popular for years to come.

Click here to see the listing. Also, bare in mind that the apartment has been on the market for 8 weeks now so the vendor could be open to offers!

25 Aug

11,500 People Live In Every Square Mile Of Liverpool – Is Liverpool Over Crowded?

11,500 People Live In Every Square Mile Of Liverpool – Is Liverpool Over Crowded

Liverpool is already in the clutches of a population crisis that has now started to affect the quality of life of those living in Liverpool. There are simply not enough homes in Liverpool to house the greater number of people wanting to live in the city. The burden on public services is almost at breaking point with many parents unable to send their child to their first choice of primary or secondary school and the chances of getting a decent Dentist or GP Doctor Surgery next to nil.

Well that’s what the papers would say.. but let’s look at real numbers, and in particular my specialist subject of Liverpool Property, with the housing issue in Liverpool. To start with, the UK has roughly 1,065 people per square mile – the second highest in Europe. The total area of Liverpool itself is 47.613 square miles and there are 552,200 Liverpool residents, meaning …

11,500 people live in each square mile of Liverpool, it’s no wonder we appear to be bursting at the seams!

11,500 People Live In Every Square Mile Of Liverpool – Is Liverpool Over Crowded graph a

 

 

… but yet again, newspapers, politicians and property market bloggers quote big numbers to sell more newspapers, get elected or get people to read their blog (I recognise the irony!). A square mile is enormous, so the numbers look correspondingly large (and headline grabbing). Most people reading this will know what an ‘acre’ is, but those younger readers who don’t, it is an imperial unit of measurement for land and it is approximately 63 metres square.

In Liverpool, only 16.52 people live in every acre of Liverpool … not as headline grabbing, but a lot closer to home and relative to everyday life, and if I am being honest, a figure that doesn’t seem that bad.

Yet, the issue at hand is, we need more homes building. In 2007, Tony Blair set a target that 240,000 homes a year needed to be built to keep up with the population growth, whilst the Tory’s new target since 2010 was a more modest 200,000 a year. However, since 2010, as a country, we have only been building between 140,000 and 150,000 houses a year. So where are we going to build these homes .. because we have no space! Or do we?

Well, let me tell you this fascinating piece of information I found out recently in an official Government report. Looking specifically at England (as it is the most densely populated country of the Union), all the 20 million English homes cover only 1.1% of its land mass. That is not a typo, only one point one per cent (1.1%) of land in England is covered by residential property. In more detail, of all the land in the Country –

  • Residential Houses and Flats 1.1%
  • Gardens 4.3%
  • Shops and Offices 0.7%
  • Highways (Roads and Paths) 2.3%
  • Railways 0.1%
  • Water (Rivers /Reservoirs) 2.6%
  • Industry, Military and other uses 1.4%

.. leaving 88.5% as Open Countryside (and if you think about it, add to that the gardens, which are green spaces, and the country is 92.8% greenspace)

11,500 People Live In Every Square Mile Of Liverpool – Is Liverpool Over Crowded graph b

As a country, we have plenty of space to build more homes for the younger generation and the five million more homes needed in the next 20 years would use only 0.25% of the country’s land. Now I am not advocating building massive housing estates and 20 storey concrete and glass behemoth apartment blocks next to local beauty spots such as Sefton Park or Speke Hall, but with some clever planning and joined up thinking, we really do need to think outside the box when it comes to how we are going to build and house our children and our children’s children in the coming 50 years in Liverpool. If anyone has their own ideas, I would love to hear from you.

In the meantime, if you would like to read other articles about Liverpool Property Market, please visit the Liverpool Property Market Blog www.liverpoolpropertyblog.com

22 Aug

Liverpool City Centre Apartment – Price Reduced

As you know, I keep a close eye on the market and notice changes and trends which help me decide what is a good investment… and what isn’t.

One of the ways I do this, is by checking out the properties with reduced prices. Why? This shows me the vendors who are motivated to sell! Vendors with little or no motivation are usually quite happy for ‘wait for the right price’ whereas somebody who really wants / needs to sell will drop the price and their agent should treat it as a brand new listing, as well as approach previous viewers.

I’ve noticed a two bedroom apartment in Cinnamon Building, Henry Street which has recently reduced from £124,950 to £120,000. With a L1 postcode, it’s in a fantastic location and is very popular among tenants. I think if you can negotiate to £118,000 or less – you’ve got yourself a very good deal! Click here to see the recent sale prices in this building which range from £124,000 up to £140,250 for two beds.

You would expect to achieve between £700 and £750 per month for the apartment. You could achieve 7.5% yield, before charges which makes this such a good buy. The listing is with City Residential – see the details here.

I think this will get much more interest at the new price as it now falls under the Stamp Duty threshold for first time buyers,so recommend inspecting asap.

As always, comments, questions and feedback is more than welcome.

22 Aug

Rockwell Close, Liverpool, L12 – 8% Gross Yield Investment

17 Rockwell Cl (3) 17 Rockwell Cl (8) 17 Rockwell Cl (11) 17 Rockwell Cl (17) I’ve spotted this new to the market property through Belvoir.

It’s a spacious three bedroom mid town house located in West Derby near the very popular Point Development off Deysbrook Lane. The property comprises of: front garden, spacious kitchen with dining area, lounge with a 2nd dining area, rear urban garden, three double bedrooms and a family bathroom.

The property is currently on the market for £90,000 and I would expect to achieve a rental income of between £6,900 and £7,200 per annum. Now you are probably asking why is a three bedroom house in West Derby this low, and the reason is because it’s not a conventional house that is located on a road. The property is located off a walk through but there is street parking close by were other residents in the close park. This wouldn’t cause an issue to most tenants who would be attracted to the area and size of the property.

As always, I would like to see if you could negotiate a lower price of 5%, then this would bring this property down to £85,500 taking the gross yield to over 8%. At the price of £90,000 then I can not see this property being available very long as it will attract plenty of interest from owner occupiers and investors.

Click her to view the property

If you would like to speak to me about this article or any other articles, then contact me on adamr@liverpoolpropertyblog.com or 07747770972