– Liverpool has a population of 484,578.
– That’s and estimated 201,908 households.
– According to gov.uk there was an estimated 9.16 repossessions for every 100,000 households In each quarter.
– This equates to a total of 74 repossessions in 2017.
– That is a lot of repossessed houses in Liverpool that could make a great investment.
In recent times, Liverpool has proved itself as being one of the top areas for property investment in the UK. In fact, Buy Assocation stated that the Liverpool postcode dominated the best buy-to-let yield areas. L7, which covers Kensington, Edge Hill and the city centre had an average yield of an impressive 12.63%. As well as having a great buy-to-let average, Liverpool’s average property price is lower than the UK average at around 105,000, making the area a great investment opportunity for those with a price range that doesn’t exceed 150,000.
Repossessed Houses in Liverpool
The Liverpool Echo listed the most and least expensive property sales in the merseyside area in April 2017 (both based in Liverpool), the least expensive was a repossession in Fairfield and went for 28,000. On the other end of the scale, there was a house sold for 1,392,000 in Blundellsands, indicating that the area can provide properties from those looking to invest no more than 50,000 to those who have over 1,000,000 to build their property portfolio.
If you are particularly interested in repossessed houses then Liverpool is an area that may be profitable to focus on. There are a number of reasons behind this. Firstly, as property prices increase and will continue to grow in the area, mortgage rates will also go up, which may eventually result in higher repossession rates. Secondly, it has been heavily hinted in 2018 that the bank of England will be increasing interest rates for the first time in 10 years, which again may result in more repossessions. Thirdly, gov.uk statistics revealed that on average in 2017, there was around 29 possession claims made by mortgage companies for every 100,000 homes, suggesting repossession rates in the area are already fairly high.