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Downtown Living
By Nicola Jeffries, New Homes Sales Director, Andrew Louis
City Living
is changing in a positive way. Liverpool expects to increase its
city centre population from 12,000 - 30,000. Nicola Jeffries, New
Homes Sales Director, Andrew Louis looks at "Downtown Living".
Latest figures suggest house prices across Merseyside have risen by almost a fifth since Liverpool was awarded the Capital of Culture status last September. Agencies across the City Centre have been inundated with demand for luxury apartments, new or off-plan. Indeed the recent launch of one of the largest new developments in the city centre, The Reach in Leeds Street saw almost 200 reservations flying out before formal planning was granted. But can market values continue to rise and is the demand sustainable?
It is some ten years since the City Living concept of trendy urbanites living in refurbished loft apartments truly began to take form in our City Centre, raising the population in 2004 to an estimated 12,000. City guidelines aim to increase this to in excess of 30,000 over the coming years. From the developers’ viewpoint, confidence is certainly high with an estimated 5689 units currently under construction or anticipating commencement in the very near future.
With the recent increases in interest rates, National house prices are expected to stabilise if not fall in the foreseeable future. The general consensus is that Liverpool will not follow suit. Of course, a major contributory factor has to be the Capital of Culture win and with the bid to become a World Heritage site, a new confidence in Liverpool is emerging. There are certainly no guarantees, speculative buying has always carried an element of risk.
How do you see demand and the market sustainability within Liverpool?
What changes or improvements would you like to see put into place within the city?
Email your comments or suggestions for discussion to change@downtownliverpool.com
Statistics from Liverpool Vision, Halifax Plc.
