The Liverpool university population and young demographic is driving growth
Demographic breakdowns highlight the heavy influx of young people as a key driver for this Liverpool population growth, with 75% of Liverpool city centre residents being aged between 17 and 29. Around 21,551 individuals were recorded in this age range during the middle of 2016, with many of them assumed to be young professionals taking advantage of Liverpool’s eclectic employment opportunities. Liverpool is home to some big business names like Matalan and Shop Direct, along with smaller, more independent start-ups based in the city’s thriving Baltic Triangle district.
Liverpool’s stance as a top student city is also said to have some influence on the city’s increasing population. High numbers of younger people are thought to be partly down to the economic success of Liverpool’s three universities, which all feature in the top 60 official University League Tables. The Liverpool university population stands at over 70,000, with the majority of students living in city centre accommodation. The city’s award-winning institutions are attracting a big student population, as UK undergraduates and postgraduates are attracted to the likes of Liverpool’s innovative research and development programmes plus state-of-the-art learning facilities. The reputation of these top institutions has kept Liverpool in the limelight as a popular student city and retained the young population of Liverpool demographics for 2017, 2018, 2019 and beyond.
Both students and young professionals are helping to bump up population statistics, and their growth is most likely attributed to Liverpool’s unique sense of city life, along with the extensive regeneration schemes planned with the help of Liverpool City Council and various developers. It’s no coincidence that the population of Liverpool has surged in line with exciting new development projects such as the Baltic Triangle and Rope Walks, and the long-awaited Liverpool Waters project which is currently planned for the famous docks in Liverpool.
Liverpool is an affordable city to live in
Liverpool is widely known as one of the UK’s most affordable locations. Everything from property to a pint of lager is cheaper in Liverpool than in many other cities, especially those down South. The affordability of Liverpool has fuelled this population growth as more people have chosen to move to the city from more pricey areas like London. In recent years, record numbers of young people had moved from London to the North West region, taking advantage of the lower prices and thriving business prospects.
The average property price in Liverpool is around £130,000, while the average rent costs around £790 per month, attracting a lot of people from lower average ages. Of course, these figures are just an average and can vary by property type and location. For instance, the rent of a two-bedroom flat in the South Liverpool district could cost around £600 a month, which is a lot lower than what tenants would pay in London. Due to the fact that Liverpool property prices are so low, however, average rental costs in Liverpool still allow investors to generate some attractive rental yields.