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Bolton Buy-to-Let Guide

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

    Like many places in the North West, Bolton offers good-value properties well below the national average. The town has a population of around 300,000, a university, a mix of urban residential properties, and greener suburban areas.

    But how does Bolton rank as a buy-to-let investment?

    If you’re considering a property investment in the North West, you’re already looking in the right part of the UK. The North West is predicted to enjoy the highest capital growth rate by Savills.

    The guide will cover Bolton’s house values and rental yields. We’ll look at the best places to invest in property in the area and compare Bolton to other regional locations.

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      Bolton Aerial View

      Buy-to-Let Property Prices in Bolton

      As mentioned, Bolton’s property prices are much lower than the national average.

      HM Land Registry’s UK House Price Index listed Bolton’s average property price at £188,897 in October 2023.

      Detached homes cost an average of £342,320. Semi-detached houses cost £202,995. Terraced properties offer excellent value at £149,471. Meanwhile, flats cost £113,567.

      According to the same index, the national average is £287,782, making Bolton over £80k cheaper than the UK as a whole.

      In addition, Rightmove states that terraced properties were the most popular properties for sale.

      With North West capital growth expected to rise by 20.2%, buy-to-let investors may see healthy returns on a Bolton property.

      Learn More: Whether you’re interested in Manchester new-build investment or looking at buying property as a company, our updated guides have everything you need to start investing!

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      Bolton street view

      Buy-to-Let Rental Market in Bolton

      According to home.co.uk, the average rent in the town is £943 PCM.

      This is comparatively cheaper than the national average, currently at £1,276 PCM (per Homelet Rental Index). The North West average – according to the Homelet Rental Index as well – is £1,006 PCM.

      As such, Bolton’s rental cost is 30% cheaper than the national rent average and over 6% cheaper than the North West average.

      The Bolton Market Rent Summary states that an average room costs £529 PCM; meanwhile, a flat costs £858 PCM. Houses have the most expensive average rent at £1,064 PCM.

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      Bolton Architecture

      Buy-to-Let Investment in Bolton: Area Breakdown

      Bolton’s numerous districts offer varying property prices, rental yields and tenant benefits.

      Heaton

      Heaton is just north of Bolton town centre. This suburb is primarily residential, sits on the slopes of the Pennine Moors, and offers plenty of green views. Heaton has good schools, public parks, wildlife reserves and excellent access to the town centre. It appeals to students from the University of Bolton and the University of Manchester, families, and young professionals.

      Average Property Prices in Heaton

      Property prices in BL1 are £203,408.

      Average Rental Yields in Heaton

      The average rental yield in BL1 is 4.3%.

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        Lostock

        Lostock is one of the more expensive places in Bolton, with plenty of leisure amenities nearby (such as the Middlebrook Retail & Leisure Park) and lots of natural beauty. The housing supply is low in this part of Bolton because houses sell quickly.

        Lostock is popular with families and retirees.

        The train station allows easy access to Manchester city centre.

        Average Property Prices in Lostock

        Property prices in BL6 are £245,579 on average.

        Average Rental Yields in Lostock

        The average rental yield in BL6 is 3.9%.

        Bolton market

        Kearsley

        Kearsley sits to the south of Bolton. It is a small town with good connections to Bolton and Manchester. Kearsley is conveniently located between Bolton, Manchester and Bury. It is one of Bolton’s most sought-after areas due to its excellent value properties. It is close to Clifton Country Park.

        Average Property Prices in Kearsley

        The average property price in BL4 is £169,923.

        Average Rental Yields in Kearsley

        The average rental yield in Kearsley is 5.3%.

        (Average property prices were taken from Rightmove in late 2023, and gross rental yield estimates were calculated with figures from housesforsaletorent.co.uk in late 2023)

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

          A Growing Student Property Sector

          Aside from the city, Bolton is the only town in Greater Manchester with its university. Currently, the university has 6,000 students. However, there are plans to grow that number to 20,000 in the future. As such, Bolton could become a lucrative student buy-to-let hotspot.

          Proximity to Manchester

          Bolton offers excellent transport links to Manchester and the surrounding Greater Manchester. Bolton train station has multiple trains per hour, taking around 20 minutes to get into the city. As such, the area is a more affordable solution for young people who want to enjoy city life and save on living costs.

          Manchester is one of the largest cities in the UK and a base for many notable companies, such as the BBC. This has transformed the city’s economy and housing market. As Bolton is so close, buy-to-let investors can take advantage of the many people who relocate to the area for business opportunities and the Manchester property market.

          More Information: Discover how to invest in UK property today with RWinvest’s latest market insights!

          Regeneration Plans

          Bolton Council’s ‘regeneration masterplan’ is set to bring in over £1 billion of regenerative investment. The plans will breathe new life into the town and make it a nicer place to live and work. These plans include new homes in the town centre and redeveloping the Crompton Place Shopping Centre.

          Another £50m plan looks set to reinvigorate Farnsworth town centre. This will add 200 homes, a cinema, restaurants and a community hub. Why not read out latest guide on how to invest £100k in property in 2024.

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            Bolton

            Bolton New-Builds

            Recently, in Bolton, there has been an increase in new homes being built as demand for good quality housing continues to outpace supply across the UK.

            In October 2023, data from the Department for Levelling Up, Housing and Communities show that 120 new homes were built in Bolton in the three months leading up to June. This is a slight increase compared to the same period in 2022, which saw 110 developments completed.

            While new-build properties usually see higher prices than typical residential properties, this investment strategy has continued to grow in popularity over the last few years – for several reasons.

            Most notably, as the developments are freshly built, they usually require less maintenance and upkeep from landlords. Along the same lines, with a contemporary design and the latest amenities, a new-build property will typically see increased demand from tenants – particularly the young professional demographic.

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            Bolton Street View

            Off-Plan Property in Bolton

            One of the most common ways to get involved with new-build properties is to invest in the development whilst it’s still under construction – also known as off-plan property investment.

            The main advantage of this strategy is that investors can acquire a property for below-market prices and can usually spread out the cost through payment plans.

            For those seeking an area close to Manchester, exploring off-plan investment in Bolton could see similar results at a more affordable price

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

              So, is Bolton one of the best places to buy to let in the UK?

              While Bolton’s property prices are attractive, rental yields leave a lot to be desired. The national average rental yield sits around 5.2%. However, many parts of Bolton fail to meet this average.

              Interestingly, Liverpool – another city in the North West – offers much better yields, with some areas exceeding 8%. According to HM Land Registry, Liverpool also has a lower average property price than Bolton – £177,224. It is also a desirable place to live, with four top universities in the region, a thriving nightlife scene and plenty of things to do.

              Further Reading: Delve deeper into the North West market with our 2024 guide to Bootle Property Investment!

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                Want to Invest in Bolton in 2024?

                Bolton offers affordable buy-to-let properties and varied districts suited to different investment strategies. However, the North West has many other good-value areas more desirable to tenants with better yields and comparative prices.

                Explore other buy-to-let hotspots with our latest investment guides:

                Map of Bolton

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                Author

                Dale Barham

                Dale is a property content writer at RWinvest. Keeping a close eye on the UK property market, Dale helps our readers stay informed and up to date on the latest market news and statistics.

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