According to Halifax revealed the North west of England had the largest price growth of properties during 2019, while prices dipped in some areas of the South.
Latest report by Savile suggests that the north-west is forecast to see the most increase in house prices over the next five years. With some exciting new developments and investment in the pipeline across the region, the North West is expected to remain the most lucrative property investment hotspot for investors.
Russell Galley, managing director of Halifax, stated: “In an interesting twist, this year’s tables show that the North of the country has witnessed the biggest increases in average house prices, while the South has seen prices dip most significantly. This bucks the trend we’ve seen in recent years and marks a small step towards achieving more balance in average regional house prices.”
One of the most thriving cities in the Northwest is Liverpool with nearly £14bn worth of regeneration schemes in progress or in the pipeline, the city is set for a transformative amount of regeneration. The £5bn Liverpool Waters scheme will completely revamp the city’s northern docklands area. The development will include high-specification residential apartments, in addition to business, entertainment and leisure spaces.
Being transformed into a world class business location, Liverpool is expected to attract more major businesses to the city and will bring more people, jobs and investment. Liverpool’s Local Plan sets out a goal of creating 38,000 new jobs, showing additional job creation is a top goal for the city council.
In addition, with big changes coming to Liverpool’s city centre, a new masterplan has been approved to deliver up to 2m sq. ft of commercial space over the next 15 years. The aim is to address the Commercial Business District’s decreasing supply of Grade A office space. The proposals will help promote and accelerate major inward investment, job creation and business growth.