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Wrexham Buy-to-Let Guide

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

    Wrexham is the fourth largest city in Wales, following Cardiff, Swansea, and Newport.

    These areas are known to be property investment hotspots, so can Wrexham compete with its larger rivals on the Welsh buy-to-let scene? Find out with our guide to buy-to-let in Wrexham.

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      Wrexham street view

      Buy-to-Let Property Prices in Wrexham

      According to Rightmove, the average price of a property sold in Wrexham over the past year was £193,402. This is substantially cheaper than the UK average of £284,691, as stated by the UK House Price Index.

      This average is similar to the previous year and 5% up on the 2021 peak. This subdued growth is characteristic of the 2023 UK property market as a whole, as the market faced a challenging climate last year. Overall growth was sluggish, with some areas even experiencing modest price dips. Wrexham seems to have avoided these price drops on average, which is good news for Wrexham investors.

      So, is property a good investment in Wrexham despite the subdued market? According to Savills, UK property’s capital growth looks set to return to growth from 2025, and healthy growth will kick off from 2026. Hearteningly, Wales’ capital growth forecast is 21.4% by 2028, which is higher than the overall UK average of 17.9%.

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      Wrexham street view

      Buy-to-Let Rental Market in Wrexham

      According to housesforsaletorent.co.uk, the average monthly rent in Wrexham is £1,067 PCM. This is a bit more affordable than the UK average of £1,262 PCM but more expensive than the Wales average of £848 PCM per the HomeLet Rental Index.

      At the end of 2023, Wrexham was named the busiest rental market of the year. Wrexham landlords received a whopping 56 enquiries per property, up from 8 in 2019, as reported by This is Money. The average advertised rent in the city was £711 PCM in 2019, which jumped to £960 PCM in 2023. This is a massive 35% change.

      The leading cause of rental inflation in the UK is the ongoing undersupply of available rental properties, and Wrexham exemplifies this upward pressure due to a supply-demand imbalance. There are simply too few homes for too many tenants, and this situation looks set to continue into the near future, causing rents to rise further. This rapid rental price growth is one of the best reasons to invest in a buy-to-let in 2024.

      The city is home to Wrexham University, giving an opportunity to target student renters for investors interested in student accommodation investing.

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      Investment Properties for Sale in Wrexham

      Wrexham is home to a rich historical past and breathtaking scenery and offers a range of property types. There are both period properties bursting with character and sleek and stylish new-builds on offer. The south of Wrexham is dominated by terraced housing, while there are more rural residential areas to the east and west, and the north is more affluent with pricier properties.

      But what is the most popular type of property among buyers in Wrexham? According to Rightmove, semi-detached properties dominated the market last year, selling for an average price of £178,151. This was followed by terraced properties going for an average of £134,743, with detached properties fetching an average of £304,061.

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        Wrexham aerial view

        Buy-to-Let Investment in Wrexham: Area Breakdown

        The Wrexham area is covered by four postcodes: LL11, LL12, LL13, and LL14.

        LL11 includes Wrexham, Coedpoeth, Llandegla, Minera, Bradley, Gwersyllt, Rhosrobin, Stansty, Brymbo, and Bwlchgwyn.

        LL12 includes Wrexham, Caergwrle, Cefn-y-Bedd, Cymau, Gresford, Hope, Llay, Marford, and Rossett.

        LL13 consists of Wrexham, Abenbury, Bowling Bank, Holt, Llan-y-Pwll, Pentre Maelor, Ridley Wood, Bangor-on-Dee, Gyfelia, and Marchwiel.

        LL14 covers Wrexham, Rhosllanerchrugog, Cefn Mawr, Ponciau, Rhostyllen, Chirk, and Ruabon.

        LL11

        Average Property Prices in LL11

        The average property price in this area is £194,642.

        Average Rental Yield in LL11

        The average rental yield in this area is 4.83%.

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          Wrexham Aerial View

          LL12

          Average Property Prices in LL12

          The average property price in this area is £264,513.

          Average Rental Yield in LL12

          The average rental yield in this area is 4.14%.

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          LL13

          Average Property Prices in LL13

          The average property price in this area is £209,841.

          Average Rental Yield in LL13

          The average rental yield in this area is 4.09%.

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            LL14

            Average Property Prices in LL14

            The average property price in this area is £176,763.

            Average Rental Yield in LL14

            The average rental yield in this area is 4.52%.

            (Average property prices taken were from Rightmove in March 2024; rental yield estimates were calculated with figures from housesforsaletorent.co.uk in the same period)

            What is the Best Area of Wrexham to Invest in?

            LL12 is more expensive as it is located to the north of central Wrexham, where there are many in-demand villages close to Chester and, therefore, popular with commuters.

            LL14 to the south has the most affordable average property price, but LL11 in the west of Wrexham has the best gross average rental yield. However, prices and yields can vary depending on which part of the postcode area you target. Wrexham generally has less-than-average property prices, allowing investors to grab a good deal on a property. However, the average gross rental yields are not as high as in other regions.

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

            Regeneration

            Regeneration is a good indicator of future growth in an area. It can imply increased rental demand,  inflation, and fast capital growth as the city becomes more desirable and attractive.

            Wrexham is currently undergoing a revamp due to ongoing regeneration schemes such as the Wrexham Town Centre Masterplan. This project will target key development opportunity sites across central Wrexham, making the town centre more attractive and accessible and improving sustainability.

            Location and Transport Links

            Wrexham’s strategic location has made it a popular residence of choice for commuters in Wales and North West England.

            Thanks to the A5, A483, and M56, Wrexham has good road links to other North Wales areas, Chester, Liverpool, and Manchester in North West England.

            When it comes to public transport, Wrexham is home to four railway stations (Wrexham General, Wrexham Central, Gwersyllt and Ruabon). Chester and Crewe are easily accessible, and a direct train to Liverpool was launched in 2019.

            Looking forward, Wrexham authorities are eager to improve their already convenient transport links. A direct train to London from Wrexham has been proposed that will run up to five times per day in each direction from as early as next year if given the go-ahead.

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            New builds

            Wrexham New-Builds

            As mentioned, there is a severe supply-demand imbalance in the UK private rental sector. Wrexham is a particularly extreme example of this, with landlords receiving over fifty enquiries on average per available rental property in 2023. Calls for more new builds in Wrexham to help address the gap between supply and demand are increasing.

            Wrexham Council is trying to address this imbalance by providing new homes for the local community. This even includes sustainable new builds, showing Wrexham’s commitment to going green sooner rather than later.

            Wrexham is such an in-demand area for housing that it has also caught the attention of private developers who target the city and its surroundings for new build projects, mainly comprising housing developments in more rural areas, such as Wrexham’s nearby villages.

            While Wrexham is a popular area, it seems quite limited when it comes to new build investment opportunities. The options are less diverse than in other major cities with newly built apartment buildings. It could be worth expanding the search to other Welsh cities such as Cardiff, Newport, and Swansea new builds.

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              Off plan

              Off-Plan Property in Wrexham

              New builds are increasingly sought-after as investment properties, but they are usually more expensive when compared to older properties. For this reason, off-plan investment is gaining attention as a strategy for acquiring a newly built property at a discounted price. By investing during the planning/construction stage of development, an investor can take advantage of discounts or payment plans offered by the developer.

              As mentioned, new-build investment opportunities are somewhat limited in Wrexham, with most new-build projects comprising housing estates. Therefore, there may not be a diverse choice regarding off-plan investment options. Off-plan investment opportunities are generally more concentrated in urban centres where capital appreciation and rental demand are more guaranteed.

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

              It’s easy to see why Wrexham is catching the attention of property investors, as the city’s buy-to-let market can offer affordable prices and extremely high rental demand.

              However, other UK cities have much higher average rental yields with comparably cheap property to Wrexham. With a better rental yield, an investor can anticipate a high-return investment. For example, Liverpool has been named by Zoopla as having one of the highest average gross rental yields in the UK. Taking the average price of a buy-to-let property as £128,905 and the average rent as £798 per month, the yield can be calculated as 7.43%.

              Major cities in North England are often considered some of the best areas for buy-to-let. One reason is that they can offer more diverse investment opportunities, such as student accommodation and off-plan property options. Cities such as Manchester have a lot of potential for investors interested in student accommodation as there are more universities and a much bigger student population compared to Wrexham.

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                Want to Invest in Wrexham?

                Wrexham has many benefits for a property investor, including affordable property prices, and it has recently been named the busiest rental market of 2023.

                However, investment opportunities in Wrexham are quite limited compared to other regions.

                To learn more about the UK’s rental hotspots, take a look at some of our latest buy-to-let area guides:

                Map of Wrexham

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                Author

                Jessica Ferris

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

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