There are some areas of Liverpool where property prices are climbing significantly. The Liverpool Echo recently highlighted the main postcodes to watch in the coming months based on research by Zoopla.
Among them is L2, which is the Cavern Quarter. This was one of the areas of the city with the highest year-on-year price increases of 2.9 per cent, the newspaper revealed. Everton’s L5 postcode and the L4 postcode in Anfield also saw this level of price increase in residential properties.
Peter Bellamy, director of Northwood estate agents, told the publication that the main reason these areas have seen such strong price growth is because they have been suppressed for many years.
In relation to the Cavern Quarter, he noted that it is the only city centre district to feature in the list and stated that repurposing commercial properties is one of the reasons why it’s seen residential property values increase.
“Most new developments in the city centre over the last decade or so have been large purpose built tower blocks along the waterfront. However, some of Liverpool’s older commercial buildings have been brought back to life through conversion to residential accommodation,” he asserted.
The Mirror recently reported on predictions from the Centre for Economics and Business Research, which is anticipating house prices in the UK will fall by 13 per cent in 2020 due to the Coronavirus pandemic.
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