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Plans for New Liverpool-Manchester Line Revealed by Railway Board

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    The recently established Liverpool-Manchester Rail Board has announced that it is moving forward with the proposed new rail link between the cities, with major investment earmarked for several stations along the route.

    The new line will run between Liverpool Lime Street and Manchester Piccadilly. The scheme could cut the journey time between the two stations from more than an hour to just 25 minutes and ease capacity issues at these major hubs. The board is considering the potential of the route terminating at Liverpool Central rather than Lime Street.

    Warrington Bank Quay and Manchester Airport will be revamped along the route, and there are also proposals to create an underground station at Manchester Piccadilly and undertake massive renewal work at Liverpool Central.

    These plans were announced officially at the UK’s Real Estate Investment and Infrastructure Forum in Leeds on 22nd May. So what are the details, and how will this ambitious project affect buy-to-let property in Liverpool and Manchester?

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      New Line to be Funded by Scrapped HS2 Project’s £17 Billion

      The newly formed Liverpool-Manchester Railway Board aims to improve railway links between the two cities, boosting the North West economy overall and delivering world-class connectivity to residents and visitors. This is likely to lead to a more attractive Liverpool and Manchester property market.

      It is chaired by the two mayors of the respective cities, with leaders of the local councils serving as vice-chairs. According to Andy Burnham, Mayor of Greater Manchester, and Steve Rotherham, Mayor of Liverpool City Region, they have received confirmation that the £17 billion set aside for the scrapped HS2 is still available for use on this new alternative rail link plan. The board is also seeking private investment.

      Leader of Liverpool City Council, Councillor Liam Robinson, said: “For Liverpool and the North West to truly realise our economic potential, we need a new age of the train – with a focus on investment in infrastructure. The benefit of a better connection between Liverpool and Manchester would not only supercharge our economies, the impact would be felt throughout the UK. This region gave birth to the era of customer train journeys. It’s time we upgraded for the 21st century.”

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      How Does Transport Infrastructure Regen Impact the Local Property Market?

      Liverpool and Manchester have already been touted as some of the best buy-to-let locations in the UK, but how will this massive project impact the local property markets?

      Improved transport links and railway station regeneration can greatly affect how desirable an area is to live and work. This is likely to lead to increased demand for property, resulting in a boost to property prices. For this reason, many investors choose to invest in areas slated for big regeneration schemes before they start, as property prices typically rise after these projects are completed, making Liverpool and Manchester property investments enticing.

      Enhancing travel links between cities also allows easier commuting and widens job opportunities for those living there. This can make cities more attractive to young professionals, who are the demographic most likely to rent. Higher rental demand and higher rental prices are likely to follow, making the city an attractive investment spot for buy-to-let.

      To learn more about the UK property market, take a look at our buy-to-let area guides, covering topics such as Mansfield investment properties and available investment property in Oxford.

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      Author

      Jessica Ferris

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      Jessica Ferris is a property writer at RWinvest, helping our readers stay ahead of property market trends with the latest news and statistics.

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