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Best BTL areas for young professionals and families in Liverpool?


michael-a

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Hi all,


Background:

I am planning to proceed with my first BTL property and, after having read a lot, I'd like to start with Liverpool. A bit more information on my background is in this posting here.

Research done so far:

I have already read the previous threads on Liverpool area advice, some of them are a few years old. Also read the recent Liverpool article in the Property Hub Magazine.

Now I'm looking to narrow down the choices and focus my search on specific areas and postcodes in Liverpool. Would appreciate your advice on areas in Liverpool which would fit my search criteria.

Search criteria:

  • Property: 1 or 2 beds. No refurb preferred. Could do minor refurbs if discounts are good. Should be mortgageable. Freehold terraced preferred, but willing to consider flats in case they yield better.
  • Budget: £60-110k range (but could do up to £150k in case investments in that price range are more attractive)
  • Looking for at least 8% gross rental yield (hope that's realistic?)
  • Tenants: Targeting young professionals or families in decent employment (so looking for relatively trouble free tenants).
  • Area should have with good rental demand from targeted group of tenants, limited voids.
  • Capital growth potential is nice to have, but I'm more focused on yield. (The way I see it is that high yield = low price = potentially better capital growth potential?)
  • Not interested (for now at least) in off-plan investments, student lets, DSS, multi-lets.

Many thanks!
Michael

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Hello Michael & Callum,

Funnily enough both your situations mirror my own as well.

I'm also based in London and am time poor looking to buy similar properties with similar tenant profiles in Liverpool.

So far I have been doing lots of desktop research and intend to visit Liverpool mid August.

Happy to connect and share ideas!

Geeta

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Hi all,

I'm looking for the same type of properties too. I went to Liverpool a few weeks ago and I was really disappointed - many viewings were cancelled because the properties had already sold - within a couple of days of coming on the market. I only managed to view a few properties and haven't made any offers. I don't want to be competing with others who are offering more than the asking prices! It seems that prices have gone up in Liverpool a lot in the last year or so. Houses that had asking prices in the 40s when I first started looking are now asking in the 70s - that's quite an increase.

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19 minutes ago, amariino said:

Hi all,

I'm looking for the same type of properties too. I went to Liverpool a few weeks ago and I was really disappointed - many viewings were cancelled because the properties had already sold - within a couple of days of coming on the market. I only managed to view a few properties and haven't made any offers. I don't want to be competing with others who are offering more than the asking prices! It seems that prices have gone up in Liverpool a lot in the last year or so. Houses that had asking prices in the 40s when I first started looking are now asking in the 70s - that's quite an increase.

Thanks, that's very useful to know.

I was planning to go to Liverpool next week to view properties, my first buy to let, but seems like a very competitive area. It may be worth my while looking somewhere with lower yields and less competitive, just to get my first property underway.

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4 hours ago, jmatharu89 said:

Thanks, that's very useful to know.

I was planning to go to Liverpool next week to view properties, my first buy to let, but seems like a very competitive area. It may be worth my while looking somewhere with lower yields and less competitive, just to get my first property underway.

@jmatharu89 what other areas were you considering if you don't mind me asking?

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Just now, n-smith said:

@jmatharu89 what other areas were you considering if you don't mind me asking?

Manchester, Leeds and Leicester all seem like good places.

I think the main issue is I am constrained by a maximum price of £80k. If I am able to save up some more funds and increase the budget to £100k, I think the options will vastly increase.

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Just something to consider I would say the Wirral could be worth looking at.

Birkenhead is an area that is undergoing a lot of change 

Massive regeneration plans are underway: https://www.wirralwaters.co.uk/

You can get 2bdrm terraced house in Birkenhead for 60 - 70k.

I own an end terrace house in New Ferry which is close to Birkenhead and am currently getting £475 per month in rent - I paid 70k for the property in 2017.

 

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  • 2 months later...

Hi All,

Really interesting thread - I'm in a similar situation to Michael and some of the others who have commented. How have your searches gone? Did you have a similar experience to @amariino and find a lot of properties were already sold before you could view them? 

Have any of you considered a new flat in the City Centre? I've done some desktop research and I can see 600+ flats between £70k - £200k which feels like a lot. I know City Centre's should provide good capital growth over the long term but it feels like the market is saturated. Keen to get people's views on this.

Thanks in advance,

Alex 

 

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  • 4 weeks later...

Hello,

Your situations and goals mirrors mine, I am currently looking everyday with the exact same criteria as mentioned above. I have mainly been looking in L7 & L11 as research shows these 2 areas best to invest in for my criteria.

Do let me know how you have got on with your searches and purchases.

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  • 1 month later...

Hi Guys, 

I would widen your search a little and have a look at L4 Anfield, L21 Bootle, L13 Old Swan/Tuebrook, L8 Dingle and L19 Garston. 
 

L6 and L7 are very popular with investors so I would be cautious of buying anything in that area, plus a lot of properties are being turned in to or have been turned into mini HMO’s which is not ideal for those looking for a single let btl. 
 

Good luck...
 

Thanks, 

 

Neil
 

 

www.propertyviewernorthwest.com/

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  • 3 months later...

Hi all, another Londoner looking at investing up north. Interested to know how any of you got on over the past months. Is the market as competitive as it seems? Keen to hear if anyone had success with a purchase. It seems like it will be hard to compete at a distance.

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On 3/26/2021 at 7:04 PM, sherry101 said:

Hi all, another Londoner looking at investing up north. Interested to know how any of you got on over the past months. Is the market as competitive as it seems? Keen to hear if anyone had success with a purchase. It seems like it will be hard to compete at a distance.

Hi @sherry101 I'd agree with the first response, things are quite hectic right now, properties going for more  than the asking price. I am halfway through the legal process with my first investment property in Liverpool looking to complete by ending of next month

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On 3/31/2021 at 4:42 PM, sherry101 said:

Great to hear, well done both @felisha @n-smith ! Would love to hear your deal numbers if you were happy to share. In which area did you go for @felisha? Im hoping to start visiting liverpool/doing viewings in the next few weeks as lockdown restrictions ease.

Hey @sherry101, thank you very much I am super excited! I have bought a 3/4 bed house 2 bathrooms in the L4 area in Liverpool for £119,000 and will be doing a standard single let. I have been looking for letting agents to manage the property for me as I live in Essex which is quite far away from Liverpool. 

 

What area/postcodes are you looking at? And are you looking for HMO prosperities or single lets

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On 3/31/2021 at 4:42 PM, sherry101 said:

Great to hear, well done both @felisha @n-smith ! Would love to hear your deal numbers if you were happy to share. In which area did you go for @felisha? Im hoping to start visiting liverpool/doing viewings in the next few weeks as lockdown restrictions ease.

I originally was looking for a 3-bed house in L20 Bootle, but it was getting really competitive and everything was selling at or above listed price within days of being on the market. I am hoping to complete on a 3-bed house in Orrell Park next month

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On 12/12/2020 at 1:18 AM, N Holman said:

Hi Guys, 

I would widen your search a little and have a look at L4 Anfield, L21 Bootle, L13 Old Swan/Tuebrook, L8 Dingle and L19 Garston. 
 

L6 and L7 are very popular with investors so I would be cautious of buying anything in that area, plus a lot of properties are being turned in to or have been turned into mini HMO’s which is not ideal for those looking for a single let btl. 
 

Good luck...
 

Thanks, 

 

Neil
 

 

www.propertyviewernorthwest.com/

Hi Neil,

 

Thanks for this, very helpful. What do you think of Kirkdale? Some people say it's horrible, but some say there are nice bits which have the potential to be positively affected by the stadium regeneration. I'd be keen to hear your thoughts.

 

Any insight is appreciated!

 

Jitz

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On 4/2/2021 at 9:21 PM, felisha said:

Hey @sherry101, thank you very much I am super excited! I have bought a 3/4 bed house 2 bathrooms in the L4 area in Liverpool for £119,000 and will be doing a standard single let.

 

That's quite expensive. Has it been refurbished to a high standard? Is it quite a large house with a garden?

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On 4/3/2021 at 4:05 PM, jitz said:

Hi Neil,

 

Thanks for this, very helpful. What do you think of Kirkdale? Some people say it's horrible, but some say there are nice bits which have the potential to be positively affected by the stadium regeneration. I'd be keen to hear your thoughts.

 

Any insight is appreciated!

 

Jitz

I think there are some nice streets in Kirkdale and I have been looking there too, but I'm not from Liverpool :)

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6 hours ago, amariino said:

That's quite expensive. Has it been refurbished to a high standard? Is it quite a large house with a garden?

Yes has been refurbished to a high standard, its a large house with a driveway. Just got valuation back today and it's been down-valued slightly so hopefully vendor agrees 

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