Investors from outside of Liverpool are continuing to “eagerly invest” in the city’s rental market potential according to a property expert.
Reflecting on the beginning of the year, Abode’s area lettings manager Elizabeth Fell suggests an eventful 2016 for the industry has attracted more business from beyond the local area.
Optimistic about the year ahead for Liverpool’s lettings market, the city agent says: “In April when a higher rate of duty on second homes was introduced, many investors thought twice about whether it was a good time to buy, prompting some landlords to review their portfolio and/or their future in property.
“However, the changes have brought more business from landlords out of the area and new investors who see our city as affordable looking to build more profitable portfolios in the city. Their appetite has far from diminished and they continue to eagerly invest in Liverpool’s property market potential.”
With the government now looking to make progress on Britain’s exit from the European Union, Elizabeth also highlights some positivity in the lettings sector following the outcome of last summer’s referendum.
She adds: “Brexit has definitely generated uncertainty but it has also boosted the rental market.”
For more expert insight on how 2017 has started for Liverpool’s property sector and outlooks for the year ahead, read the Hot Topic in the latest issue of Your Move.