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Blackpool Buy-to-Let Guide

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    Everything You Need to Know About Blackpool Buy-to-Let

    Blackpool conjures a particular image in many people’s minds:

    Beach. Funfairs. Promenades. The Blackpool Tower. Donkeys.

    However, this Lancashire city also offers a budget-friendly property investment. Blackpool offers cheap property across the entire region. Its proximity to Liverpool and Manchester makes it a desirable buy-to-let investment.

    Today, we’ll be covering Blackpool property prices and the local rental market. In addition, we’ll look at the best areas for investing in buy-to-let. We’ll tackle the local amenities, and finally, we’ll see how Blackpool compares to the rest of the country.

    If you’d like to know more about Blackpool buy-to-let investment, check out the rest of the article below.

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      Buy-to-Let Property Prices in Blackpool

      Blackpool property prices are much lower than the national average. The Land Registry puts Blackpool house prices at £137,460 in late 2023. A year prior, house prices were £129,440. This represents a 6.20% increase.

      Let’s break down that Blackpool average by property type.

      Late 2023 data shows that Blackpool’s detached houses cost £228,788 on average. Semi-detached properties cost £154,770. Terraced houses cost £114,017. And flats and maisonettes are only £80,341.

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      Buy-to-Let Rental Market in Blackpool

      Houses for Sale to Rent puts the Blackpool rental income average at £649 PCM. Some properties are as cheap as £300 PCM.

      The national average rental income is £1,279. This makes Blackpool 49% cheaper on average for tenants.

      In 2023. The North West experienced an annual rental growth of 9.70%. This figure is slightly less than the UK annual growth of 10.30%.

      Further Reading: Discover how to start property investment and the latest buy-to-let stamp duty rates with our updated investment guides!

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      Investment Properties for Sale in Blackpool

      Various property types are available within the Blackpool rental market, from semi-detached houses to flats and terraced properties.

      According to Rightmove, properties in Blackpool saw an average price of £156,962 over the past year. During this time, semi-detached properties were the most prevalent property type, boasting an average price of £167,066. Meanwhile, terraced properties fetched an average of £116,827, while flats achieved £91,854.

      Overall, sold prices in Blackpool over the last year were 3% lower than the previous year and 6% down on the 2021 peak of £166,245.

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        Buy-to-Let Investment in Blackpool: Area Breakdown

        Before choosing a buy-to-let opportunity in Blackpool, property investors should conduct thorough research into the area.

        We’ll break down the different Blackpool localities to help you decide.

        Central Blackpool

        The centre of Blackpool comprises terraced housing and flats. However, the suburbs offer detached, semi-detached and bungalow properties.

        This area leads down to the South Shore, where investors will find hotels and B&Bs. As such, investors with short-term let strategies may thrive here. It is also a popular residential spot. Central Blackpool appeals to locals who work in the town centre.

        Average Property Prices in Central Blackpool

        Zoopla puts the average house price in FY1 as £111,285. Detached and semi-detached houses cost £137,000 and £137,516 respectively. Terraced properties and flats for sale cost £97,186 and £89,489.

        Learn More: Check out our expansive library of resources, covering everything from buy-to-let fees to the best buy-to-let areas!

        Average Rental Yields in Central Blackpool

        The average rental yield in Central Blackpool is 6.7%. This is based on data from Houses for Sale to Rent.

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          North Blackpool

          North Blackpool move past the North Shore and includes the following areas:

          • Anchorsholme
          • Thornton-Cleveleys
          • Bispham
          • Little Bispham

          North Blackpool still has some hotels and B&Bs. However, this area is popular with families and retirees. Still, properties close to the beach could be rented as holiday lets.

          Fleetwood sits further north. This is a separate town with its own amenities. It also has a reliable tram service that goes into Blackpool. As such, some people choose to live in Fleetwood and commute to Blackpool for work.

          Average Property Prices in North Blackpool

          These areas include the FY2 and FY5 postcodes.

          FY2 has an average property valuation of £152,052. Detached houses cost £274,446. Semi-detached go for £161,293. Terraced properties and flats go for £125,138 and £89,119.

          FY5 average property prices are £182,593. Detached and semi-detached properties cost £257,695 and £165,696, respectively. Terraced houses and flats cost £148,475 and £94,385.

          Investors can expect to pay an average of £152,000 in FY7 (Fleetwood). Detached homes in this area cost around £262,292. Semi-detached houses go for £158,602. Terraced properties cost £117,574, whilst flats cost £89,838.

          Average Rental Yields in North Blackpool

          FY2 average rental yields are 5%.

          FY5 average rental yields are 4.4%.

          FY7 average rental yields at 4.8%.

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            Blackpool Aerial View

            East Blackpool

            Areas in the eastern part of Blackpool include:

            • Carleton
            • Grange Park
            • Common Edge
            • Great Marton
            • Hoohill
            • Hawes Side
            • Layton
            • Little Marton
            • Mereside
            • Warbreck
            • Queenstown

            Investors can find residential properties and commercial properties in this part of Blackpool. Residents have great access to the town centre and the M55, so it’s good if they work in the area or further afield. In addition, parts of the area are close to green spaces, such as Marton Mere and Stanley Park.

            If you further east, you’ll find Poulton-le-Fylde. This is a small market town with local amenities and a train station that connects to Blackpool and Preston. People looking for a more subdued atmosphere choose to live here. However, prices are significantly more expensive than the town centre.

            Average Property Prices in East Blackpool

            FY3 average property prices are £149,102. The detached properties cost £284,528. Semi-detached are £161,103. Terraced and flats are £113,180 and £81,206.

            FY6 property prices are £242,853 on average. Most expensive properties include detached homes at £360.707 and semi-detached homes at £202,225. Terraced properties and flats are £175,067 and £147,787.

            Average Rental Yields in East Blackpool

            Rental yields in FY3 are roughly 5.3%.

            Yields in FY6 are around 3.8%.

            South Blackpool

            If you are looking for somewhere more affluent, you may want to consider Lytham St. Annes. This area is south of Blackpool and comprises three different districts: Lytham, St. Annes, Ansdell and Fairhaven.

            The area has a few railway stations connected to Preston and Blackpool South. The area is quaint and quiet. As such, Lytham St. Annes is popular with older people and families. However, property prices are usually 50% steeper than Blackpool.

            Average Property Prices in South Blackpool

            Properties in the FY8 postcode command an average price of £285,404. Detached houses are the most expensive in the surrounding area. They cost £419,044 on average. Semi-detached cost £268,100. Meanwhile, terraced houses and flats cost £224,288 and £196,433 on average.

            Average Rental Yields in South Blackpool

            Lytham St. Annes yields are relatively low compared to the rest of Blackpool. They are usually around 3.3%.

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              Why You Should Consider a Buy-to-Let Investment in Blackpool

              Blackpool has numerous factors that attract tenants and investors into the area.

              These include:

              Transport Links

              Blackpool offers good transport links to the rest of the country. Residents can access the UK motorway network from the M55. The train stations also have services to the likes of Liverpool, Manchester, Birmingham and London. Blackpool Airport is also nearby but does not run passenger flights.

              The local transport network allows workers and visitors to travel with ease. The tram runs from Fleetwood to Starr Gate. Buses are also frequent, connecting residents with the surrounding area.

              Tourism

              Tourism is one of the big economic boosters in Blackpool. The Blackpool illuminations, Pleasure Beach and promenade, attract people from all over the UK. This makes holiday lets and Airbnb property investment viable options.

              However, tourism is seasonal. Expect fewer people in the winter months.

              Commercial, Industrial and Regeneration Sectors

              Tourism is only one aspect of the Blackpool economy. Other sectors include public services and light manufacturing. The Victoria Hospital provides plenty of jobs. In addition, the energy, nuclear and aerospace sectors also create opportunities.

              Blackpool suffers from numerous high-property areas. However, the Blackpool Council has plans to inject life into the area.

              Regeneration schemes include:

              • Blackpool Central – a £300 million tourist attraction
              • Talbot Gateway – office space and transport interchange
              • Showtown Blackpool – a museum
              • Other schemes to open new hotels and promote the retail and leisure sector

              Blackpool is also trying to create more jobs in the industrial and commercial sectors. The Black Airport Enterprise Zone looks to create 180 new business opportunities, 5,000 jobs and £300 million in private investment. The zone has already brought 114 companies to Blackpool.

              As more people come to Blackpool for work, investors can profit from the inevitable demand for accommodation.

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              Blackpool New-Builds

              Newly built properties are frequently hailed as prime options for investors. Their appeal stems from minimal maintenance requirements before market release, making them highly sought-after by tenants looking to move into a property more quickly.

              Consequently, landlords can swiftly generate returns on their investments compared to older properties, which typically demand renovation and significant upkeep beforehand.

              The Grange Park residential development in Blackpool is one of the region’s most expansive new housing projects. The £20 million project, which will see the construction of 96 affordable houses, five bungalows and 30 sheltered apartments, aims to help address the undersupply of housing within the local market.

              As property market dynamics continue to evolve, investing in newly developed properties like these could yield higher rental growth potential in the coming years.

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                Off-Plan Property in Blackpool

                Newly constructed properties frequently attract keen interest from tenants but often come with higher price tags for investors compared to traditional residential units.

                To make new-build properties more affordable, one effective strategy is to engage in off-plan property investment. This involves purchasing a property before construction is completed. By entering the process at an early stage, investors can typically secure units at discounted rates compared to standard market values.

                Through off-plan investment, investors stand to benefit from substantial appreciation in property value as construction progresses. As the property nears completion, the potential for capital growth tends to increase.

                Like any newly built property, off-plan properties typically experience strong rental demand, potentially leading to significant rental yields in the future.

                The most successful off-plan investors often target emerging areas with robust infrastructure and growing job markets. Locations undergoing substantial regeneration are particularly attractive, as many private developers focus on such areas for future construction projects.

                While there is potential for off-plan investment in the Blackpool rental market, investors may discover more lucrative opportunities in UK cities with a broader range of new-build developments, such as Liverpool and Manchester.

                Read More: Discover more about this investment trend with our recent buy-to-let guides, covering everything from off-plan property in Huddersfield to the latest UK hotspots!

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                How Does Blackpool Compare to Other UK Regions When It Comes to Buy-to-Let?

                Blackpool property is much cheaper than the national average. In fact, Blackpool is 72% less expensive than your typical UK area. The rental yield is 5.7%, marginally higher than the UK average of 5.19%.

                These numbers may look appealing. However, property investors may want to look at other parts of the North West for greater yields on a slightly more expensive investment.

                Zoopla puts the average Liverpool price at £156,300. This is only 14% more than its seaside counterpart. In addition, Liverpool enjoys rental yields of 7.77% on average. If you look further east, Buy to let Manchester boasts even greater yields of 9.12%, but the property will cost even more.

                Explore the UK Rental Market: Delve further into UK buy-to-let hotspots with our guide to Dudley investment properties.

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                  Want to Invest in Blackpool?

                  Blackpool marries cheap properties and above-average rental yields, making it attractive to buy-to-let property investors. A small property in the town centre may serve as a solid addition to your property portfolio, especially when bolstered by stronger properties elsewhere in the North West.

                  If you want more information about the various buy-to-let property hotspots that the UK has to offer, check out our latest area guides:

                  Map of Blackpool

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                  Author

                  Dale Barham

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                  Dale is a property news and onsite content writer at RWinvest.

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