Rise in short-term lets in Liverpool - Buy Association Landlords in Liverpool see best yields in Liverpool for short term lets averaging 27.2% rental yields.
Recently, short-term lets in Liverpool are averaging 27.2% rental yields, reinforcing what many have been implying; short-term lets in major cities are becoming more lucrative than long-term lets.
Portico Host, a short-term lettings agency revealed a number of statistics lately linked to neighbourhoods in Liverpool, and which offer the best rental yields. But one figure stood out amongst the rest. Whilst short-term lets are averaging 27.2%, long-term lets are achieving 13.6%.Although still impressive, it showcases the strength of the short-term let market.
Out of a proposed 10 best performing locations for short-term lets in both Manchester and Liverpool, the top eight postcodes were found to be in Liverpool City Region.
Rachel Dickman, Regional Manager of Portico Host commented, “It isn’t surprising to find that the properties that are achieving the greatest returns are those that are situated in areas surrounding Liverpool and Manchester city centres.”
One of the reasons these cities stand out are their excellent transport hubs, Liverpool Lime Street and Manchester Piccadilly, which allow for easy connections between northern and southern cities, which ultimately support the cities with a higher tourist economy.
Dickman continued, “Liverpool is becoming increasingly popular on the tourist trail, with 1.34 million people visiting the city in 2018, including business travellers, students and young professionals.”
The increase to short-term let’s yields are predicted to continue as Liverpool is undergoing£14bn of regeneration. When combined with £250m investment in road infrastructure, the city is expected to blossom in the near future.
“It’s also continuing to host and attract major sporting events and these factors are resulting in a growing number of people wanting to stay in short let properties in Liverpool, and the increased demand for this type of accommodation is underpinning the rents that can be achieved.”
When discussing Liverpool’s regeneration, it is important to note the new Everton football club stadium, which is expected to boost the economy and provide even more reason for investors to look into short-term buy to let property.
With sustained regeneration projects and reliable transportation links, Liverpool has set itself up to become a short-term let haven for investors and residents looking for a diverse city with plenty of city living amenities.