Wigan Property Investment: The Ultimate North West Commuter Town in 2022

Wigan Property Investment Wigan Property Investment

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: 

  • Latest Wigan prices and investment opportunities 
  • A detailed look at Wigan capital appreciation and rental yields 
  • 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 Why Invest in Wigan

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 2022. 

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

  1. 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.  
  2. 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. 
  3. 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.  
  4. 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. 

Wigan Property Investment 2021-22 Wigan Property Investment 2021-22

Wigan Property Investment 2022 

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. 

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Wigan House Prices 2020-21 Wigan House Prices 2020-21

Wigan House Prices 2020/21

According to the latest Land Registry data on the UK house price index, the average Wigan property is valued at £162,502. 

This is incredibly affordable for property in the region, valued at 19.8% below the North West average, and 26.54% 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 14.94% 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.  

Average House Price UK 12 Month Growth Average House Price UK 12 Month Growth

 

Incredibly, Wigan not only boasts property prices £101k 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 31.72% since 2016, and 221.60% since 2001. 

For comparison, the average UK property has seen just a 22.82% since 2016, and 164.32% in the past 20 years. 

Wigan vs UK Property Price Growth Wigan vs UK Property Price Growth

 

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 Rent and Rental Yields Wigan Rent and Rental Yields

Wigan Rent and Rental Yields 2020/21 

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 £592 PCM, generating a rental yield of around 4.45%. 

At first glance, this seems quite low, especially when compared to other investment hotspots, with cities like Liverpool (6.74%), Birmingham (6.87%), and Manchester (9.04%) offering far higher gross returns. 

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. 

Average Gross Rental Yield UK Average Gross Rental Yield UK

 

Another key piece of information for investors hunting Wigan buy to let properties is the accuracy of the data. 

While Zoopla is a fantastic data source, the accuracy of the data depends heavily on the amount of stock available. After all, with a limited stock, it’s difficult to make sweeping conclusions on an entire housing market. 

Unfortunately, due to high demand, there are fewer available properties on the Zoopla market, making accuracy lower than would be expected. 

The reality is you can expect higher returns in the Wigan hot spot with far higher 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 2022 and Beyond Wigan Property Price Predictions For 2022 and Beyond

Wigan Property Price Predictions for 2022 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 28.0% by 2025 – the joint-highest growth in the UK. 

This is after seeing prices rise by 4.5% in 2022, 4.0% for 2023, and 3.5% and 3.0% in the two years following. 

North West Buy to Let Price Forecast North West Buy to Let Price Forecast

 

If the growth in recent years is anything to go by, the region is braced for an incredible hike in property value in the coming years. 

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Best Places to Invest in Wigan Best Places to Invest in Wigan

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 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. 

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, WN3, WN7, and WN8, which feature gross returns over 4%. 

Liverpool L1 City Centre Postcode

The Mill

Invest With £60,000

Liverpool Prices from £139,950

Assured 6% NET Rental Return

Grade 2 Listed Building

Exclusive Investment Opportunity
Liverpool Prices from £125,995

6% Rental Yields

Stylish Liverpool Apartments

Off-Market Property
Manchester Prices from £200,000

5% Projected Rental Return

Amazing Onsite Facilities

RWinvest RWinvest

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. 

You can find the latest Wigan developments and Greater Manchester properties on our investment property for sale in Wigan page.

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. 

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