The property market in Liverpool city centre was boosted by healthy investment during the last quarter, according to analysis from local estate agent City Residential.

The company’s Residential Report for Q1 of 2016 indicates that the residential sales sector grew by 1.24% during the three-month period ending 31 March, an annual increase of 3.98%.

The acceleration was attributed to landlords and investors rushing to complete buy-to-let and second home deals ahead of the increase in stamp duty introduced by Chancellor George Osborne in his latest Budget, which came into play on 1 April.

Growing interest in city centre properties from high-net-worth, long-term investors was also noted.

Furthermore, Liverpool city centre’s residential letting’s market enjoyed growth during the quarter, with prices rising by 0.99% during the period in question and 3.46% year on year.

Meanwhile, the private rented sector (PRS) benefited from £200 million of new investment thanks to key schemes including Inhabit’s purchase of Heaps Mill from Elliot Group, and Grainger’s £14.5 million acquisition of the Kings Dock Mill apartments.

Alan Bevan, manging director, City Residential, says: “both the sale and the lettings markets are performing strongly, the PRS market is continuing to attract substantial investor interest and the city’s commercial investment market is also performing strongly. We also have a strong political leadership who seem extremely focused on encouraging outside investment in the city and keen to engage with the private sector.

“Whilst there will no doubt be headwinds around the corner and a full UK recession would be difficult to withstand we can’t help but feel that the city is in a really good place at the moment and long may that continue.”

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