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Wigan Property Investment: The Ultimate North West Commuter Town in 2024

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    Why Wigan Investment Property Is a Smart Choice in 2024

    When it comes to buying property, the likes of Liverpool, Manchester, and London will likely spring to mind.

    But look closer at market data, house prices, and rental yield, and you’ll find a less obvious lucrative investment strategy – Wigan property investment.

    Located on the banks of the River Douglas and famed for both football and rugby, the North West town is quickly cementing itself as one of the hottest up-and-coming investment spots in the UK.

    In this guide, you’ll find a breakdown of why Wigan investment property is a smart choice in 2024.

    Topics include:

    • Latest Wigan prices and investment opportunities
      A detailed look at Wigan capital appreciation and what is a good rental yield
      Best places to invest in Wigan
      How does Wigan investment property compare to other UK cities

    Let’s begin!

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      Why Invest in Wigan? (Four Reasons)

      Investment in Wigan is becoming an incredibly popular prospect for many investors in the UK housing market, and Wigan properties are selling fast.

      With extremely affordable house prices, a wide and varied workforce, and such great regional prosperity, Wigan investment property is a hit in 2024.

      Here are four reasons why you should consider an investment in Wigan.

      • Invest in Wigan for the perfect commuter town in the North West – With two train stations and located near the A49 and A577, Wigan is the perfect destination for workers in the North West, making the local housing market a hot commodity for commuters.
      • Invest in Wigan for huge levels of regeneration creating massive market demand – Greater Manchester is no stranger to regeneration and a bulk of efforts are focused on Wigan, including a major £135m of the town centre on the horizon.
      • Invest in Wigan for a dense population attracted to exciting employment opportunities – With such a vast amount of employment opportunities, and such a dense population of 100,000, the potential of Wigan buy to let is huge. The area is not only a short journey away from career opportunities in Liverpool and Manchester, but the region also boasts companies like Heinz and Waterfields.
      • Invest in Wigan as the ideal place to live – Wigan is quickly becoming an ideal place to live for outdoor enthusiasts thanks to easy access to a wide range of open spaces. With a low cost of living, seven different nature reserves and a huge amount of green belt land to choose from, those who choose to buy property in the town do so happily, with the area quickly becoming a retirement hotspot. This reduces the chance of void periods, with those investing more likely to retain their tenants for several years.

      Thanks to its opportune location and Wigan’s surface area features, it could be soon that Greater Manchester’s entire population will start eyeing up living in the town.

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      Wigan

      Wigan Property Investment 2024

      The North West town of Wigan may not be an obvious solution for property investment.

      But thanks to years of consistent house price growth and incredible levels of affordability, the small town is starting to boast one of the North West’s premier property investment opportunities.

      In fact, Wigan was voted as one of the best buy to let areas in 2019 and this reputation has continued into 2024.

      For investors considering a property purchase to expand their own portfolio, here are the latest house price data for the Wigan area.

      Wigan House Prices 2023

      According to the latest Land Registry data on the UK House Price Index (as of March 2023) the average Wigan property is valued at £184,825.

      This is incredibly affordable for property in the region, valued at 14.57% below the North West average and 25.34% under the average price in Manchester.

      Affordability is a valuable attribute of Wigan property, with costs, including a mortgage, far less than the UK average.

      Better yet, the price of Wigan investments increased by 8.21% over the last year.

      Key for investors targeting retirement, this 12-month growth is an incredibly positive sign, as it outweighs the price growth in the UK’s major investment hotspots.

      Incredibly, Wigan not only boasts property prices £100k below the UK average, but the town also exceeds the capital appreciation seen in the hugely popular areas of Liverpool, Manchester, Birmingham, Leeds, and even London!

      Looking back further still, Wigan prices have increased by 51.67% from 2016 to 2022 and 217.45% since 2002.

      For comparison, the average UK property has seen just a 37.54% increase from 2016 to 2022 and 153.47% in the past 20 years.

      Again, this highlights the strength of investments in the area, with high income and yields offering exciting potential for landlords to make a serious addition to their portfolio.

      By investing in Wigan, you can expect some excellent value for your money, with a big cash pay-out whenever you decide to sell.

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      Wigan Rental Yields 2023

      While properties in the town are offering some seriously high capital appreciation, rent and rental yields on the surface seem lacking.

      According to Zoopla data, the current average rent in Wigan is £696 PCM, generating an average rental yield of around 4.52%.

      At first glance, this seems quite low, especially when compared to other investment hotspots, with cities like Liverpool, Birmingham, and Manchester offering higher gross returns of over 5%.

      However, in context, this shouldn’t deter potential landlords.

      For starters, compared to other Greater Manchester boroughs, Wigan offers the third-highest gross rental returns at a considerably lower price tag.

      Another thing to consider is the specific Wigan postcode you’re interested in investing in. The WN1 postcode, for instance, in Wigan city centre, offers 4.31% rental yields on average. Our latest Wigan investment property, Vantage Point, boasts assured 7% rental yields for a whole year!

      The reality is you can expect high returns in Wigan with attractive rental income depending on what housing development you choose, with the potential to earn upwards of 5% NET.

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        Wigan Property Price Predictions for 2024 and Beyond

        Now that we’ve looked at current returns, let’s have a look towards the future.

        After all, when investing in buy to let property, most investors will have a keen eye on the future for when they decide to sell their development.

        Thankfully for those investing and thinking of selling, the North West region is expecting some seriously high capital growth in the coming years.

        Industry experts Savills predicts that the average North West home will see prices rise by 20.2% by 2028 – one of the highest growth forecasts in the UK.

        This is after seeing prices rise by 4.5% in 2025, 5.5% for 2026, and 7.0% and 4.5% in the two years following.

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          Best Places to Invest in Wigan

          So, where are the best places to invest in Wigan?

          Below you’ll find a breakdown of Wigan postcodes, which are some of the best up and coming areas in Greater Manchester 2024. Likewise, thanks to excellent affordability, they’re also some of the best areas for first time buyers in Greater Manchester.

          If you’re looking at options for where to buy in Greater Manchester in 2024, the following eight postcodes may be a good choice for you.

          Let’s take a look at the latest property prices, capital appreciation, and rental returns for each Wigan postcode.

          It’s important to note that due to the low stock level on Zoopla, rent data is limited, which means returns may not be fully representative of the entire Wigan buy to let sector.

          WN1

          Average Property Price – £201,455

          Average Gross Rental Return – 3.70%

          WN2

          Average Property Price – £165,216

          Average Gross Rental Return – 5.66%

          WN7

          Average Property Price – £164,700

          Average Gross Rental Return – 5.10%

          What Are the Best Wigan Buy to Let Areas for Capital Appreciation?

          According to our calculations, the best buy to let areas in Wigan for capital growth are WN2 and WN7, which offer a 10-year capital growth rate of over 40%.

          What Are the Best Wigan Buy to Let Areas for Rental Returns?

          To get the best rental returns, the Wigan buy to let areas you should focus on are WN2, WN7, and WN8, which feature gross returns over 4%.

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          Secure Investment Property for Sale Wigan With RWinvest

          Thinking of securing a Wigan investment property or Wigan buy to let for sale?

          Then you’ve come to the right place.

          If you feel ready to jump straight into investment – take a look at one of our latest developments: Vantage Point.

          Located in the very heart of Central Wigan, a historic mill town in Greater Manchester, Vantage Point arguably introduces one of the highest quality residential accommodations that Wigan has ever seen.

          With strong 7% rental returns and a lucrative exit strategy, the development is located on the main shopping Street of Standishgate.

          With 100,000 Wigan residents commuting to work, many to city centres like Manchester and Liverpool, it is also perfectly placed for convenience and accessibility.

          Simply put, if you want to invest in Wigan, RWinvest is the company for you.

          Voted the North West’s best property business in 2020, no other companies can offer our expertise and exclusive property offers.

          Contact us today and have a chat with one of our fantastic investment consultants.

          Alternatively, sign up for our mailing list to receive future updates on all things property and the latest property advice.

          Also, be sure to check out the latest buy to let news on our website.

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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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