Why Invest in
Why Invest in Wigan?
When you think of property investment hotspots, small towns such as Wigan may not be the first area you think of.
The truth is, however, that compared to major UK cities like London, there are opportunities to generate a higher return on investment by purchasing property in more up and coming buy to let investment areas.
Wigan property investment offers a lot of benefits including high rental returns, steady tenant demand, and excellent capital growth potential.
Find out more about why investing in Wigan is a great choice for your next UK buy to let venture.
A Great Area For Rental Yields
If high rental yields are your primary focus when it comes to investing in property, don’t miss out on the potential yields available with Wigan property investment.
Wigan has been voted the 4th best place in the UK for rental returns by both Zoopla and Aldemore, thanks to its average yield of 7.9%.
Investors into Wigan property can expect an average rental return of £601, with higher returns available depending on the location and property type.
In more good news, the rental market in Wigan is performing incredibly well, with rental growth of a huge 10.5%. There is a lot of demand for rental accommodation in Wigan, particularly 1-bedroom apartments for which a reported 59% of people are seeking out.
A Fast Moving Market
Wigan’s property market is deemed the fastest moving in the UK right now. According to Zoopla, it takes just 26 days on average for a property in Wigan to be purchased, highlighting the high demand seen throughout the Wigan property market.
It’s likely that this is, in part, due to the affordable property prices in this area. Wigan’s average property price stands at just £201,038 according to the latest Zoopla data on asking prices.
This allows investors to secure a low-priced buy to let deal, especially if investing in properties such as Vantage Point, which offers stylish 1-bedroom units from just £139,950.
Millions Worth of Regeneration Planned
After being awarded purple flag accreditation, Wigan has been hailed as a place of vibrancy and Culture, and is one of the only places in Greater Manchester to boast this status.
Thanks to a host of planned regeneration schemes, Wigan is set to generate even more interest and grow its reputation as a top UK location.
Wigan is a key town for the proposed HS2 regeneration scheme, which is set to see UK areas benefit from high-speed railway lines in a bid to improve connectivity across the UK. The town will massively benefit from this upgrade, with a reduction in Co2 emissions, a rise in job opportunities, local business growth, and more.
The £135 million Galleries Shopping Centre redevelopment scheme is another planned regeneration scheme that will boost the area massively. This will introduce new amenities such as a multimedia centre, 10,000 sq ft of commercial space, 265 homes, and more.
