People renting property in Liverpool could leave due to a hike in the cost of living and a lack of homes, according to a new report.
Rightmove polled renters in ten major cities across the UK, including Liverpool, and found that the increased cost of living and a lack of available homes is leading to more people leaving the cities they live in.
Of the respondents, 42% of renters said they are in contact with agents to explore a move, up from 37% a year ago.
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The proportion of tenants who said they would leave Liverpool due to the price of rent has increased from 26% in February 2020 to 35% in February 2023.
Rightmove’s property expert Tim Bannister said: "The latest rental market trends demonstrate how cost pressures and the imbalance between supply and demand are changing the way tenants search for their next home.
"We’re seeing that a greater proportion of prospective buyers are looking for a home in the city they live in, but it’s the opposite trend for renters who may be finding that they’ve been priced out of the city or have decided to move further out to reduce their overall bills."
Average asking rents across Britain have increased by 11% compared with this time in 2022. In Liverpool, the average asking rent per calendar month for a property in the city centre was £948 last month, 2% higher than the same period three years ago.
However, the figure was the second cheapest out of the ten cities listed, second only to Sheffield. The most expensive was 'inner London' at £3,308, followed by Edinburgh city centre (£1,511), Bristol (£1,452) and Manchester (£1,409).
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