Growth in city living reduces Liverpool’s vacant resi stock

LIVERPOOL’S city centre and docklands population grew to more than 30,000 last month, according to new figures.

Like many northern cities Liverpool has witnessed a massive growth in city centre residents as a property boom fuelled by buy-to-let investors brought scores of city centre apartments onto the market. Moreover, although valuations of many properties have slumped due to the knock-on effect of the banking crisis, demand for rental properties has been sustained high as students who graduate and stay in the city have opted to live in the centre, according to estate agency City Residential.

The agency, which is run by Alan Bevan and Phil Hartley, reported that this growth in demand had led to a shortage of available apartments for rent in the city during the last quarter.

“Whilst we would expect the rate of increase to slow due to limited new build activity the figures highlight both the popularity and importance of city centre living in the city centre and docklands areas of Liverpool,” said Bevan.

“The substantial take-up has also rapidly reduced the vacant stock in the city from close to 20% just over 2 years ago to around 12% today.”