Birkenhead has always been seen as the little brother to Liverpool but with world class views over the Mersey to the famous Liverpool waterfront, it’s no surprise that property prices in Birkenhead and on the Wirral are booming. So do I need to get my HMOs in now before prices are unaffordable? Let’s take a look.
Birkenhead House Prices
August 2022 saw a bumper month for Wirral house prices, including Birkenhead, which saw the average house price jump up £6,000 in one month alone. The latest government data from Land Registry suggests that the average house price on the Wirral reached £213,000 up from £206,000 in July. This equates to a 3.1% increase in one month, and over the last year it’s up 12.9%.
Despite the increase, the Wirral is still behind the national average of £295,000. So, is this the time to snag a bargain with bumper growth yet still below the national market value?
Birkenhead’s Big Regeneration Plans
Birkenhead is going to benefit from some massive regeneration programmes and millions of pounds of new investment over the next few years. This should help to bring more jobs and more new residents to the Birkenhead area and help to boost the property market.
Wirral Council has ambitious plans for regenerating Birkenhead with regeneration activity being coordinated by the Wirral Growth Company, a joint venture between Wirral Council and Muse Developments.
Birkenhead 2040 Framework
The area is set to benefit from the Birkenhead 2040 Framework. This is a 20-year plan for to transform and regenerate Birkenhead. Birkenhead 2040 has eight key projects with the overall aim target of creating 6,000 new jobs and building 21,000 new homes in the town.
Birkenhead regeneration plans include regenerating the town centre with a new Birkenhead Market and town square and developing 900,000 sq.m. of commercial space including a new office quarter. There will also be a new high-quality residential district around Conway Park train station. There will be new foot and cycle connections, new public space and new green space including a new linear park along the disused Dock Branch railway.
Wirral Waters Scheme
Birkenhead is also set to benefit from the Wirral Waters scheme. Wirral Waters is a 30-year master plan to regenerate a 500-acre area of old dockland just north of Birkenhead town centre. Wirral Waters will have around 13,000 new homes plus 20 million sq. Ft. of new office space, space for new manufacturing industries plus new educational and cultural amenities.
HMO Investment Opportunity in Birkenhead
Investing in BTLs and HMOs in Birkenhead could be a very smart move over the next couple of years particularly with the local plans coming to fruition and taking advantage of the lower property prices in relation to the national average. However, some areas are more saturated than others and some areas around the country have article 4 directives, which restrict the development of new HMOs. Check out our section about HMOs for Sale in Birkenhead for information on planning, licence, tenant types and demand, and much more.
