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RWinvest Study: Liverpool Is Top City for Energy Efficiency

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    Liverpool Ranks as One of the Cheapest Major Cities for Energy Bills

    Investing in property in the UK is not always as easy as you would believe. To maximise returns, investors must meticulously evaluate various factors before embarking on their investment journey.

    Amidst the ongoing cost of living crisis, maintaining tenant satisfaction is critical for buy-to-let investors. Energy-efficient properties are in high demand as tenants seek to reduce their energy expenses.

    In a study by RWinvest, Liverpool ranks as one of the cheapest cities for energy bills.

    The study takes into account the ten largest cities in the UK and looks at the average bills for dwellings with two people.

    Read on for more information.

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      How Much Do Energy Bills Cost Across the UK?

      According to our study, Liverpool and Sheffield are the two cheapest cities in the UK for energy bills. Glasgow completes the top three. In comparison, Manchester, Newcastle, and Birmingham are some of the most expensive places for energy bills.

      If you are considering investing in property in London, your chosen property could face some of the highest bills in the UK, with the average for two residents coming in at a costly £236 per month.

      The average cost of utility bills per month in Liverpool is £180. Meanwhile, Sheffield costs £142 and Glasgow costs £172.

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      UK Energy Bills in Major Cities: At a Glance

      Please note: Utility bill data taken from Expatistan.com

      UK CityPopulation (According to Demographia)Average Utility Bills Per Month (For Homes With Two People)Average Rent (According to Home.co.uk)Average Property Price
      (According to HM Land Registry)
      London10,803,000£236£2,192£539,074
      Birmingham2,517,000£272£1,629£231,429
      Manchester2,449,000£341£1,772£240,485
      Leeds-Bradford1,659,000£192£1,519£243,913
      Glasgow1,100,000£172£1,530£179,386
      Southampton-Portsmouth805,000£151£1,564£247,757
      Liverpool835,000£180£1,060£179,129
      Newcastle719,000£252£1,518£199,699
      Nottingham719,000£182£1,450£196,758
      Sheffield603,000£142£1,008£220,457

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      What Do Cheaper Energy Bills Mean for Property Investors?

      The current cost-of-living crisis has forced most people in the country to tighten their pursestrings and take greater care with their money. As such, most tenants are looking for properties that help them save on their energy bills.

      If you’re looking for low-risk property investments in the UK, then you must consider tenant satisfaction as a major part of your buy-to-let strategy.

      According to uSwitch, a property’s EPC rating is one of the factors tenants consider when choosing a property. This shows that energy-efficiency properties will be more in demand. As such, landlords can charge more expensive rents, increasing their ROI.

      In addition, if you are faced with void periods in between tenancies, it helps to have lower energy bills to cover.

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        Is Sheffield or Liverpool Better for Property Investment?

        Both Liverpool and Sheffield benefit from lower-than-average rents. According to data from Home.co.uk, the average rent in Liverpool is £1060, while Sheffield’s is slightly lower at £1,008.

        However, Sheffield is considerably more expensive for properties than its North West counterpart. The HM Land Registry UK House Price Index puts the average property price in Liverpool at £179,129; the average Sheffield price is £220,457.

        As such, Liverpool serves as a better-value property investment option for investors looking for a significant ROI.

        Choosing the best way to invest 50K in property investment is not always as simple as it may seem. Take a look at our guide for the latest insights!

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        Why Do Energy Bills Differ in Price Depending on the City?

        Local distributors in different regions set their own charges for energy suppliers. As such, they pass additional costs to consumers via energy bills.

        Some regions can provide cheaper energy rates because they have ample fossil fuels or alternative renewable energy sources.

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          Final Thoughts

          According to Martin Lewis’ reaction to the latest Ofgem energy price cap, energy bills are set to rise to their highest levels this winter. He has become an authority in the UK. Whether it is Martin Lewis’ best way to invest 100k or his financial advice regarding consumer habits, people trust what he says – 13 million newsletter recipients are a testament to this. As such, we can expect tenants to consider their energy bills as we head into the winter months.

          For this reason, investors should keep a closer eye on the energy rates in different cities, using good EPC ratings as a selling point for their properties.

          Want to learn more about the UK housing market? Read some of our latest insights below:

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          Author

          Chenhao Li

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