Reurbanization and Housing Markets in the Central and Inner Areas of Liverpool

Abstract

British cities appear to be moving from a period of counter-urbanization to a period of reurbanization. One reason for this appears to be the growth of residential development in city centres. At the same time as there has been a boom in city centre housing, many cities appear to have experienced housing market failure in parts of the inner urban area. Through a study of Liverpool this article considers the evidence to support the notion that reurbanization is becoming an established trend, and why. What is the relationship between this emerging central area housing market and the surrounding inner urban areas? What are the implications for planning practice? The article concludes that there is evidence of reurbanization, partly driven by the economic revival of the city centre economy. But this emerging housing sector caters only for a niche population and makes a relatively inefficient contribution to housing supply. However, with the exception of student housing, it appears to be segmented from and not adversely impacting upon the inner-area housing market. If the goal is to broaden the appeal of city centre living to a wider social spectrum and to increase the efficiency of its contribution to housing supply, then its provision needs to be more carefully planned in terms of housing mix, local environmental conditions and amenities.

Notes

1. Liverpool One Project, a £1 billion scheme covering 17 hectares of the city centre. Opened during 2008, it contains 150, 000 square metres of retail space as well as a park, hotels, restaurants, apartments and a multi-screen cinema.

2. The number of buy-to-let mortgages increased nationally from 130, 000 in 2002, to 225, 900 in 2004 and to 329, 100 in 2006 (Council of Mortgage Lenders, Statistics, Table MM17.Available at http://www.cml.org.uk/cml/statistics, accessed 28 November 2007), as against a rather more modest rise in UK housing completions from 175, 235 in 2001/02, to 190, 427 in 2003/04 and to 213, 372 in 2005/06 (DCLG Housing Live, Table 253 Housebuilding. Available at http://www.communities.gov.uk/housing/housingresearch/housingstatistics/housingstatisticsby/housebuilding/livetables, Accessed 12 March 2008).

3. Authors' survey of advertisements at www.rightmove.co.uk (accessed 19 November 2007).

4. Authors' survey of advertisements at www.rightmove.co.uk (accessed 19 November 2007).

5. Authors' survey of advertisements at www.rightmove.co.uk (accessed 19 November 2007).