RWinvest Study: Liverpool Is Top City for Energy Efficiency
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Liverpool Ranks as One of the Cheapest Major Cities for Energy Bills
Investing in property in the UK is not always as easy as you would believe. To maximise returns, investors must meticulously evaluate various factors before embarking on their investment journey.
Amidst the ongoing cost of living crisis, maintaining tenant satisfaction is critical for buy-to-let investors. Energy-efficient properties are in high demand as tenants seek to reduce their energy expenses.
In a study by RWinvest, Liverpool ranks as one of the cheapest cities for energy bills.
The study takes into account the ten largest cities in the UK and looks at the average bills for dwellings with two people.
Read on for more information.
Rents of around £1,615 a month projected as a short let in a thriving Liverpool regeneration area
Enquire about Fox & Foundry today, our latest addition to Liverpool’s Pumpfields regeneration zone, with prices from £247,950.
How Much Do Energy Bills Cost Across the UK?
According to our study, Liverpool and Sheffield are the two cheapest cities in the UK for energy bills. Glasgow completes the top three. In comparison, Manchester, Newcastle, and Birmingham are some of the most expensive places for energy bills.
If you are considering investing in property in London, your chosen property could face some of the highest bills in the UK, with the average for two residents coming in at a costly £236 per month.
The average cost of utility bills per month in Liverpool is £180. Meanwhile, Sheffield costs £142 and Glasgow costs £172.
Rents of around £1,615 a month projected as a short let in a thriving Liverpool regeneration area
Enquire about Fox & Foundry today, our latest addition to Liverpool’s Pumpfields regeneration zone, with prices from £247,950.
UK Energy Bills in Major Cities: At a Glance
Please note: Utility bill data taken from Expatistan.com
| UK City | Population (According to Demographia) | Average Utility Bills Per Month (For Homes With Two People) | Average Rent (According to Home.co.uk) | Average Property Price |
|---|---|---|---|---|
| (According to HM Land Registry) | ||||
| London | 10,803,000 | £236 | £2,192 | £539,074 |
| Birmingham | 2,517,000 | £272 | £1,629 | £231,429 |
| Manchester | 2,449,000 | £341 | £1,772 | £240,485 |
| Leeds-Bradford | 1,659,000 | £192 | £1,519 | £243,913 |
| Glasgow | 1,100,000 | £172 | £1,530 | £179,386 |
| Southampton-Portsmouth | 805,000 | £151 | £1,564 | £247,757 |
| Liverpool | 835,000 | £180 | £1,060 | £179,129 |
| Newcastle | 719,000 | £252 | £1,518 | £199,699 |
| Nottingham | 719,000 | £182 | £1,450 | £196,758 |
| Sheffield | 603,000 | £142 | £1,008 | £220,457 |
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Luxury investment opportunity near the £2billion Old Trafford regeneration scheme. Short-term lets approved with projected NET yields from 8% and premium onsite facilities such as a luxury spa.
What Do Cheaper Energy Bills Mean for Property Investors?
The current cost-of-living crisis has forced most people in the country to tighten their pursestrings and take greater care with their money. As such, most tenants are looking for properties that help them save on their energy bills.
If you’re looking for low-risk property investments in the UK, then you must consider tenant satisfaction as a major part of your buy-to-let strategy.
According to uSwitch, a property’s EPC rating is one of the factors tenants consider when choosing a property. This shows that energy-efficiency properties will be more in demand. As such, landlords can charge more expensive rents, increasing their ROI.
In addition, if you are faced with void periods in between tenancies, it helps to have lower energy bills to cover.
Invest in an Exciting Greater Manchester Regeneration Zone - From £269,950
Luxury investment opportunity near the £2billion Old Trafford regeneration scheme. Short-term lets approved with projected NET yields from 8% and premium onsite facilities such as a luxury spa.
Is Sheffield or Liverpool Better for Property Investment?
Both Liverpool and Sheffield benefit from lower-than-average rents. According to data from Home.co.uk, the average rent in Liverpool is £1060, while Sheffield’s is slightly lower at £1,008.
However, Sheffield is considerably more expensive for properties than its North West counterpart. The HM Land Registry UK House Price Index puts the average property price in Liverpool at £179,129; the average Sheffield price is £220,457.
As such, Liverpool serves as a better-value property investment option for investors looking for a significant ROI.
Choosing the best way to invest 50K in property investment is not always as simple as it may seem. Take a look at our guide for the latest insights!
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Why Do Energy Bills Differ in Price Depending on the City?
Local distributors in different regions set their own charges for energy suppliers. As such, they pass additional costs to consumers via energy bills.
Some regions can provide cheaper energy rates because they have ample fossil fuels or alternative renewable energy sources.
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Final Thoughts
According to Martin Lewis’ reaction to the latest Ofgem energy price cap, energy bills are set to rise to their highest levels this winter. He has become an authority in the UK. Whether it is Martin Lewis’ best way to invest 100k or his financial advice regarding consumer habits, people trust what he says – 13 million newsletter recipients are a testament to this. As such, we can expect tenants to consider their energy bills as we head into the winter months.
For this reason, investors should keep a closer eye on the energy rates in different cities, using good EPC ratings as a selling point for their properties.
Want to learn more about the UK housing market? Read some of our latest insights below:
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It will be my third investment apartment with RW Invest and I cannot recommend them highly enough. Sean Orrett and Chloe Walker really do go the extra mile. Chloe in particular helped me through a particularly hard time with solicitors and all the paperwork that was involved. Living in a different country and negotiating all the nuances that come with investing, she negotiated with ease and gusto. A big thanks to you both.
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Chloe is very helpful. She has been a great help and solved all the difficulties I had with the purchase. I am happy she was there to help with the process. Very approachable and responsible.
This was my second unit purchase with RWinvest, and I found the team to be very helpful in finding the best deal which suited my needs and budget. Arjun Surana, Adam Burns were really processional in answering all questions, Excellent follow up and ensures your property purchase are smooth from the start to end and supporting throughout the purchase/exchange of contract process.
I highly recommend anyone to purchase their property with RWinvest.
- Liverpool Ranks as One of the Cheapest Major Cities for Energy Bills
- How Much Do Energy Bills Cost Across the UK?
- UK Energy Bills in Major Cities: At a Glance
- What Do Cheaper Energy Bills Mean for Property Investors?
- Is Sheffield or Liverpool Better for Property Investment?
- Why Do Energy Bills Differ in Price Depending on the City?
- Final Thoughts