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Potential2lettings are an established property letting agents covering a wide ranging area including Liverpool, Wirral, Ellesmere Port and Chester. We specialise in residential lettings and property management and we have over 12 years combined experience in the local lettings market. Our team of professional letting agents and property managers will work with you to ensure a smooth, professional and rewarding relationship.

9 Apr

South Liverpool Investment Property

Written by Jon Bieri - Director on Thursday 9th April 2015

South Liverpool Investment Property

As I have mentioned previously mentioned in other articles, Liverpool is a vast city and like many other vast cities you can broadly describe it has having a north/south divide and this is especially true when it comes to property.

Liverpool is increasingly hitting the headlines as a hot spot to invest. But this doesn’t really help you the investor. You need to know where to focus your attention but without local knowledge this is literally like trying to find a needle in haystack!!

This article is about investing in property in the South of the city. Each investor has different requirements and investing in Liverpool south will not be right for every investor at this point in their journey but it will be for some.

What’s South Liverpool like?

Firstly, let’s make some observations about Liverpool south. When we talk about Liverpool south we are talking about the following postcodes, in most affluent order.

L18, L17, L19, L15, L8,L7

It’s a very popular location in which to live and work. It has arguably the best green areas in the city, of note are Sefton park, Princes park and Otterspool Prom.

Equally it has some the best places in which to eat and drink….Lark Lane is probably the most famous example of this. On top of which the journey to the city centre is less than 10 minutes in taxi and 30 minutes by bus.

In short people really want to live here. Inevitably because of the above prices tend to be higher, so it’s not affordable for everybody. The crude end result being you tend to get a lot more professionals living in this location.

What about property prices is South Liverpool?

Looking at Proviso statistics for the period Jan 2012 to Dec 2012, the average price of a terraced property in L17 was £141,760 where as in L20 it was £69,500. In terms of rents these are probably £700 (L17) and £450 (L20).

As an investor you will need as a rule a 25% deposit to get started. In reality to consider investing in prime South Liverpool investment property you will need circa £35,000. This may rule some of you out, but of course you can still invest in other parts of Liverpool, which we would still be happy to help you with as we cover a wide area.

Of course if you fall into the category of having £35,000 available, you may wish to consider buying two properties in the North of the city as opposed to one in the South. After all your returns are going to be greater on this basis arn’t they?

The short answer is it depends…..although it’s true that south Liverpool letting agents fees are similar to those in the North, you need to consider other factors.

When you rent a property in Liverpool South, you tend to have better protection in terms of deposits and guarantors and shorter void periods…so your risks are less when you invest in South Liverpool investment property.

Also your tenant profile is likely to be lot different in South Liverpool, for instance it’s less likely they will be in receipt of housing benefit, so if you don’t want a housing benefit tenant, this is your best bet.

Clearly then when deciding to invest ie North or South, it’s important to consider your attitude to risk, as well as your investment goals.

On a personal basis I am starting to invest more in South of the city now for some of the reasons listed above.

As an investor who has bought a property and who doesn’t want to manage the property themselves, the next stage is to find a local letting agent, so you will now need to find south Liverpool letting agents.

South Liverpool letting agents, what are their prices and fees? And how can you select one?

There are lots of agents in South Liverpool, and their fees are very similar, however the value they offer is very different.

Find yourself an agency owned by a full time landlord (hyperlink), someone you can go to with whatever property problem or investment problem you might have….AND WILL KNOW THE ANSWER. It’s difficult to put a value on such things.

I’m always here to help you on your property journey.

Jon Bieri Potential2Lettings, Call me any time on 0151 356 7551.

 

What do you think?