Liverpool – A changing demographic
Whilst Liverpool’s student tenants are often cited as one of the main growth stories of the city’s population it may surprise you to learn that there is a huge demographic change happening elsewhere. As the city becomes an every increasingly attractive place to live, work and play we are beginning to see older and wealthier tenants make Liverpool city centre their home. You can see why they are attracted to the city given the stunning availability of restaurants, theatre, museums, culture and events. Whilst previously many of these people have lived in the suburbs they are now realising that there is better and more convenient option by residing in the city centre.
Analysing the tenant data that we collect every month (and have done so for over two years now) we are beginning to see the facts back up our experience that this momentum is gathering pace.
• The number of 31-40 year olds taking up new tenancy agreements in Q1 2017 has increased by 46% compared with Q1 2016
• In the 6 months to April 2017 the percentage of 30+ year olds renting in the city increased by 64% in comparison to the same period 12 months earlier
• In the 6 months to April 2016 15% of tenants were spending 20% or more of their earnings on rents but this fell to only 6% in the same period to April 2017
• In the 3 months to April 2017 11% of our new tenants were in the 41-55 age bracket compares with 8% 12 months earlier – an increase of 41%