Post-vote wobble was seen both among individual buyers and investors with proposed purchases put on hold but September saw a ‘strong’ recovery, according to the latest City Residential study. Tony McDonough reports.
Liverpool city centre’s residential property market was hit by the Brexit vote in June, a new report says.
But the latest Residential Update from Liverpool agency City Residential said that by September there were signs of a “strong” recovery.
The post-vote wobble was seen both among individual buyers and investors with proposed purchases put on hold.
The report said: “The market recovered in August, albeit slowly, although September was strong.”
City Residential says Liverpool is continuing to attract wealthier investors/buyers who are looking for “better quality” schemes/apartments that are in short supply/not being delivered at present.
The report adds that local investors are continuing to focus on the lower priced/affordable end of the market where the yields are higher and the per sq ft prices are lower/more affordable.
It adds: “The city is continuing to prosper with several large projects gathering momentum which is further enhancing potential buyers view of the city’s prospects.”
Among new schemes in the pipeline is Moda Living’s £82m, 34-storey skyscraper at Liverpool Waters comprising hundred of luxury apartments.