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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 2022.
Topics include:
Let’s begin!
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By submitting your details you agree to allow RWinvest to store and process the information submitted and receive product information and other communication, as stated in the privacy policy.
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 2022.
Here are four reasons why you should consider an investment in Wigan.
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.
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 2022.
For investors considering a property purchase to expand their own portfolio, here are the latest house price data for the Wigan area.
According to the latest Land Registry data on the UK House Price Index (as of November 2022) the average Wigan property is valued at £187,119.
This is incredibly affordable for property in the region, valued at 14.57% below the North West average, and 19.23% under the average price in Greater 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 15.78% 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 £108k 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% since 2016, and 217.45% since 2002.
For comparison, the average UK property has seen just a 37.54% increase since 2016, 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.
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 £601 PCM, generating an average rental yield of around 3.85%.
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.
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 11.7% by 2027 – the joint-highest growth in the UK.
This is after seeing prices rise by 2.5% in 2024, 4.5% for 2025, and 7.5% and 6.0% in the two years following.
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 Manchester 2022. Likewise, thanks to excellent affordability, they’re also some of the best areas for first time buyers in Manchester.
If you’re looking at options for where to buy in Manchester 2022, 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.
Average Property Price – £187,663
10-Year Capital Appreciation – 37.96%
Average Gross Rental Return – 4.31%
Average Property Price – £163,387
10-Year Capital Appreciation – 40.45%
Average Gross Rental Return – 4.53%
Average Property Price – £160,158
10-Year Capital Appreciation – 43.38%
Average Gross Rental Return – 4.01%
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%.
To get the best rental returns, the Wigan buy to let areas you should focus on are WN2, WN1, WN7, and WN8, which feature gross returns over 4%.
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, directly benefiting from the proposed HS2, which will serve Wigan North-western station.
With strong 7% rental returns and a lucrative exit strategy, the development is located on the main shopping Street of Standishgate and is also situated directly on the HS2 route.
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.
John is a property writer here at RWinvest. With a close eye on property market news and updates, John writes detailed and informative articles on a range of topics that are helpful for anybody looking to invest in UK property.
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