Liverpool's housing market - an overview
As in the rest of the country, the prices of our most desirable properties in the city centre and southern suburbs have risen a great deal over the last five years. Although partly due to the national trend, in Liverpool's case this has been further boosted by the city's rapidly growing economy bringing new and better jobs. Our winning of Capital of Culture status for the year 2008 has also helped.
The renaissance of the city centre, its waterfront and the Speke Garston area in the south, have seen the demand and prices for quality homes and apartments rise to at - or sometimes even above - national average values.
However, at the other end of the scale, in the northern end of the city, there are far too many pre-1919 terraced homes that do not meet the aspirations of people who work in the city. Many of these are now finding better jobs. With more money to spend on better quality homes, they move away to find better quality and choice of housing. Some areas of North Liverpool now have many empty or abandoned properties which people do not want to buy or move in to.
In the worst affected areas, the Housing Market Renewal Initiative is trying to rectify the failing housing market by talking to private housebuilders. We want to see whole streets replaced with a wider selection of new properties.
Also, in North Liverpool we have started a number of schemes to rebuild areas with new or improved district shopping centres. These are at places such as Project Jennifer on Great Homer Street, and Stonebridge Cross at Gillmoss. We have also begun a schools refurbishment programme. Also, more jobs are being created in the Strategic Investment Areas.
All the measures outlined above will offer residents the choice of remaining in their communities. We want to give Liverpool citizens a better range of housing options and improved services via effective Neighbourhood Management.
Our aim is for the city to have attractive, safe and sustainable neighbourhoods. Creating a demand for houses helps to maintain values of properties, and in times of economic stability or growth, increase them.
Related topics:
- City Centre Living
- Find out more about Liverpool's suburbs
- Find out about the city average house prices in our Ward Profile documents