Compared to London’s growth rate of 4.1%, Liverpool is developing five times faster, boosted by numerous high-performing sectors. According to data from The Data City, it surpasses other rapidly expanding city economies such as Sheffield, Bradford, Portsmouth, and Manchester.
Liverpool’s logistics sector thrives thanks to its recent freeport status and increased port activity. Major investment projects like Liverpool2 and expanded warehousing contribute to the city’s growth.
There’s a notable surge in job applications in software development, particularly in security engineering and game development.
The business support sector is also performing exceptionally well, with a yearly growth rate of 12.7%. Recruitment companies are flourishing, making Liverpool an attractive destination for business support services.
The study also highlights how organisations like Tech Climbers and Liverpool City Council provide diverse support programs, including free business coaching, health checks, and digital skills training, to support companies and individuals.
With the economy performing well, expect tenant demand to increase in the area as more professionals look to this northern city for new job opportunities. This should serve as good news for investors looking for the best things to invest in in the UK property market.