Wigan Properties Are Affordable
Part of the reason behind such high demand for Wigan properties can be explained by the affordability of house prices in the area.
Zoopla data lists Wigan property prices at an average of £161,258 as of December 2021 based on current property listings.
That’s significantly lower than the price in nearby cities Liverpool and Manchester, which both have a current average asking price of over £200,000.
If you’re seeking a UK buy to let property to meet a lower investment budget, Wigan is a great town to consider.
The Rental Market Is Thriving
Rental prices in Wigan have increased by 10.5% in the year to September 2021, giving the town the title of a UK rental market hotspot.
Despite these rising rental costs, however, Wigan is still hailed as one of the most affordable places in the UK to rent a property.
Rental yields in the town are some of the best in the country, with Wigan being voted the 4th best town for rental yields by This Is Money. This is due to impressive rental yields of up to 7.9%.
The popularity of Wigan as a commuter town likely plays a big part in the area’s rental market demand.
Thousands of people commute daily to nearby towns and cities, including Liverpool and Manchester which are just a short train ride away.
Many people who work in cities like Manchester, but don’t wish to pay the higher costs that come with renting in a big city, can secure a similar rental property for a lower monthly cost in Wigan.
There are also a high number of large businesses based in Wigan itself, including huge food industry names like Heinz, increasing the number of professionals looking for rental accommodation in the town.
More recently, the Department For Works and Pensions has secured a new office in the town, further boosting jobs in the area.
