A £4.5 billion master scheme is set to transform this North West town, generating huge interest from property investors.
The North West region continues to top charts and solidify its position as the best place to invest in the UK and is already home to one of the top-performing property markets in the UK. In the latest Zoopla house price index, the North West once again posted the fastest growing property prices in the UK at a rate of 2.9%, compared with the UK average of 1.5%.
Over the next five years, the area is forecast to see house prices rise by 29.4% – which is the highest of any region of the UK – according to predictions from Savills.
Of the North West cities, a report from Colliers earlier this year ranked Liverpool as a front runner ranked as the third best city for house price growth, property affordability, rental yields and income-to-rent ratios. Large volumes of spend are being pumped into the Liverpool area, including master schemes such as the £5.5 billion Liverpool Waters which was named as the ‘best place to invest 2024‘ by The Sunday Times due to the turbocharged regeneration taking place there.
Riverside transformations
Activity is picking up on the other side of the River Mersey too. Brought forward by the same developers behind Liverpool Waters is another master scheme on the Left Bank of the River Mersey – Wirral Waters. With around £4.5 billion being spent, Wirral Waters will transform the docklands with brand new neighbourhoods, businesses and an influx of residents and working professionals.
The Wirral Waters Masterplan aims to create a mixed-use, high-density, highly sustainable project that will elevate and regenerate the area to the benefit of its existing community.
Liverpool Waters has already had a huge impact on the surrounding area and has positively boosted the existing property market and the potential of its future. In light of this, the Wirral Waters scheme is very likely to have the same effect on the surrounding area of Birkenhead.
Birkenhead breakthrough
Birkenhead is the largest town in the Wirral, sitting opposite Liverpool on the Left Bank of the River Mersey. Birkenhead is already a sought after location on the Wirral peninsular, having been labelled as a “dream home destination” in a survey last year, while research also shows that the area had seen a 125% increase in property demand between 2019 and 2022 thanks to new investment already taking place there.
The local authorities in Birkenhead have major plans to improve the town and have put forward a framework for 2024.
Birkenhead’s Framework 2040 is set to transform the town with values such as connection, culture, sustainability, industry, health, inclusivity and waterfront-garden living at its forefront. Projects include: £24 million Birkenhead Commercial District; more than 21,000 homes and 6,000 jobs in an area of over 270 hectares in a sustainable urban garden community on the Mersey waterfront.
Other major investments taking place include a new £14m Birkenhead Market, which will be spread across nearly 33,000 sq ft of space containing 13 retail units, 10 food retailers, an event space, bakery, cocktail bar, coffee shop and seating.
Birkenhead Framework 2040 Map – pin shows the location of a new residential property investment opportunity
Investor interest in the area
The billions of pounds being spent across Birkenhead and the Wirral docklands make it a prime hotspot for investors looking to get ahead at securing properties. There are several pull factors to Birkenhead, the strongest being its position sitting only five minutes (Merseyrail across the river) from Liverpool yet remaining a more affordable option than the city centre.
It’s a particular favourite among property investors, as the cheaper than average prices allow every level of investor to access the market, while the high tenant demand means rental yields are especially strong in the area, boosting returns for landlords who hold onto their properties for long-term value.
For property investors who get in early ahead of any planned regeneration, the returns from both capital appreciation and rental yields can be significantly higher compared with investing in a previously regenerated area.
This is one of the main reasons why investors are already keen to invest in Wirral, off the back of the recent success of nearby Liverpool Waters, which has also undergone significant redevelopment over the past decade.
Getting in ahead of the market now comes with the opportunity of benefiting from the rippling effect of the local investment and regeneration projects taking place – we have seen the same effect in hotspots such as Stockport.
Birkenhead and the Wirral docklands are a strong property investment case – and we have an opportunity available, positioned right in the heart of all of the regeneration taking place and at very attractive price points. Get in touch to find out more ahead of the project launch.
If you’d like to find out more about property investment opportunities in the Wirral, Liverpool or the North West, get in touch with BuyAssociation today, or browse some of our latest developments here.
