A Buy to Let Hotspot in the North West
Whenever you think of property investment, chances are the UK’s big cities will come to mind.
With Liverpool, Manchester, Birmingham, Leeds, and London all proving a hit amongst investors, you’d be forgiven to think that they are the best options out there.
And while the likes of Liverpool and Manchester are offering top returns in 2023, dig a little below the surface and you’ll find some fantastic towns providing just as good returns at a fraction of the cost.
One perfect example of this is Wigan, a Greater Manchester town quickly becoming an excellent UK buy to let hotspot.
But why is this the case? Let’s find out in this quick look at Wigan property investment. For a complete in-depth guide, be sure to click the link to read more.
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Wigan – The Perfect Commuter Town
Ideally located between Liverpool, Manchester, and Bolton, Wigan is quickly becoming the perfect commuter hotspot in the North West.
A transport superhub, the Greater Manchester town is on the intersection of the A49 and A577, linking Wigan to the hugely popular M58, M6, and M61.
Better yet, the town also boasts some excellent train links.
With two train stations in the town centre, Wigan North Western and Wigan Wallgate, commuters can get into Manchester city centre in just 30 minutes, with only 50 minutes required to get to Manchester Airport.
There are even direct links to Liverpool, Southport, Glasgow and Edinburgh, with London around two and a half hours away.
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An Expanding Property Market
As more and more people choose to live in Wigan to take advantage of the town’s excellent job opportunities, the property market is quickly expanding.
Not only is the town affordable, but it’s also offering solid rental yields and significant capital growth potential.
Despite its smaller population size, Wigan has an incredibly comparable property market to the UK’s major investment hotspots.
Significantly more affordable than other UK hotspots, as you can see from the table, Wigan is cheaper than Liverpool, Manchester, Birmingham, Leeds, and London, while also offering higher capital growth rates.
Gross rental yields are currently lacking, with an average rent of around £592, according to Zoopla.
However, this is based on a small sample size, so the actual gross returns may be far higher than this.
Moreover, if you dig a little, you’ll be able to find excellent property investment opportunities offering 5% NET returns in Wigan – a substantial investment.