29% growth between 2025-2029 in the North West of England, how?

Residential property values in North West England increased by an impressive 5.9% in 2024, making it the strongest performing UK region according to the latest data from Savills (2024). This growth is primarily driven by the vibrant markets in Manchester and, increasingly, Liverpool.

North West Property Market Overview

The most recent market data from Savills (2024) identifies the North West as a standout performer, projecting continued robust growth of approximately 29% from 2025 to 2029, the highest forecasted rate of growth across the UK regions.

Manchester: Sustained Leadership

Manchester continues to spearhead regional growth, having already enjoyed significant appreciation over the past decade. Recent reports by Savills (2024) highlight several factors sustaining Manchester’s robust housing market:

• Economic Strength: Manchester remains an economic powerhouse, bolstered by thriving technology, finance, and creative industries, which continuously attract professionals and boost housing demand.
  

• Ongoing Regeneration: Continued urban regeneration projects, notably around MediaCityUK and city-centre residential developments, are keeping the property market buoyant and attractive to investors and residents alike.
  

• Strong Population Growth: According to ONS (2021), Manchester’s population grew by 9.7% between 2011 and 2021, well above the regional average, fuelling steady demand for residential properties.
  

These dynamics reinforce Manchester’s enduring appeal as a robust property investment hub.

Liverpool: The New Growth Hub

Liverpool is rapidly emerging as the North West’s next major growth story. Savills' latest market updates (2024) project a substantial growth trajectory for Liverpool, forecasting residential value growth of around 24% by 2026.

Key Drivers of Liverpool’s Market Growth

• Major Regeneration Projects: Significant initiatives such as the £5 billion Liverpool Waters and the Knowledge Quarter continue to attract investment, transforming Liverpool into a vibrant economic and residential centre (Savills, 2024).
  

• Improved Infrastructure: Enhanced connectivity through infrastructure projects, including potential high-speed rail links to Manchester and beyond, bolsters Liverpool's appeal and boosts its long-term growth potential.
  

• Affordability and High Yields: Liverpool remains considerably more affordable than Manchester and southern UK cities, offering attractive rental yields regularly exceeding 7%, providing significant incentives for investors (Savills, 2024).
  

• Demographic Strength: ONS (2021) data shows a continued population growth of 4.2% from 2011 to 2021 in Liverpool, driven by increasing numbers of students and young professionals, underpinning sustained rental and property value growth.
  

Comparative Outlook: Liverpool Mirrors Manchester’s Path

Liverpool’s current trajectory strongly parallels Manchester’s earlier growth cycle. The factors driving Manchester’s historical success—economic growth, regeneration, infrastructure enhancements, and demographic shifts—are now prominently evident in Liverpool. According to Savills (2024), Liverpool is poised for a similar property boom as investors increasingly pivot toward the city seeking future appreciation potential.

Future Prospects

The latest insights from Savills (2024) strongly suggest Liverpool will continue to experience significant property value appreciation, supported by ongoing investment, favourable demographics, and infrastructural improvements. Liverpool stands out as a prime opportunity for investors seeking growth comparable to Manchester’s successful transformation.

The North West remains a compelling and high-performing region for residential property investment, with Liverpool rapidly emerging as its next major growth story.

References

• Office for National Statistics (ONS), 2021. Census 2021.

• Savills, 2024. UK Housing Market Update.