Buy to let booms as Liverpool jobs and salaries rise

A local business news article in Liverpool recently disclosed that the city has seen the second largest increase in job vacancies in the UK whilst average wages are also surging. Leading recruitment site CV library has released data suggesting that Liverpool employment opportunities skyrocketed by 14.4% in May 2018 whilst a 6.2% rise in salaries advertised on the site for the Liverpool area was also witnessed.

The job vacancy giant is the third largest site on the internet with a database of around 12 million CVs. Its statistics for vacancies in Liverpool prove to be a fine indicator of employment growth as the city beat other major urban regions like London and Birmingham to offer the second-highest amount of jobs in the whole of the UK.

In 2017, Liverpool was yet again crowned the best place to get employed in England by the Liverpool Echo due to high business confidence in the area. Last year, the city experienced an 11% rise in applications for jobs in the urban district with vacancies up by 20%. With the positive trends in employment filtering into 2018, a degree of stability surrounds the northern hotspot as it succeeds in maintaining its prominence for employment in the UK.

After undergoing an escalation in population for the past 18 years, it has also been illuminated that there is a high concentration of residents between 17 and 29 living in the innermost central zones of the city. It seems that young professionals are the first to look for jobs in Liverpool city centre and are also ideal tenants for rental property in the surrounding areas of the city. As salaries are also on the up, Liverpool residents living in the city centre have more disposable income to afford more expensive rates in brand-new, higher-quality properties.

Finding a greater quantity and quality of jobs in Liverpool rather than London isn’t the only pull factor for tenants up and moving to the city. When it comes to residential accommodation, property is far more affordable in Liverpool’s northern corners in comparison to steep London prices. Young people in the south of England are attracted to Liverpool’s employment prospects and lower cost rents where they can afford to live in more spacious and luxurious developments.

It’s not only good news for residents however, with investors also able to take advantage of the city’s unique investment opportunities. Property investment firm RWinvest works specifically in the buy to let sector and boasts about Liverpool’s ‘winning combination of low property prices and high rental yields’ for investors.

Regeneration across the city is spreading a fresh and exciting vibe through its streets, intensifying the already solidified culture that Liverpool is so globally-renowned for. Exclusive music venues, art galleries, world museums and hundreds of bars and restaurants have been developed to put the city on the map as a go-to destination for not only working, but living too.

Monumental regeneration projects such as Liverpool One, RopeWalks and the L2 Superport have raised the profile of this Northern Powerhouse player by investing billions into improving living in the city whilst also creating a number of employment openings. The so-called Commercial District has experienced a £1.6 million upgrade alone, with plans for a huge Liverpool Waters scheme worth £5.6 billion predicted to boost Liverpool’s employment prospects further.

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