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.