Here at Property Moose, we try to provide our members with the information they need to make well-informed investment decisions. We’ve previously written about the north’s potential for great yields, and published many articles on why we believe Manchester has become a property investment hotspot. We have recently launched a House of Multiple Occupancy (HMO) opportunity in Wigan, Greater Manchester, and in light of this, we wanted to take a closer look at the town.
Nestled between the major cities of Manchester and Liverpool, Wigan’s connectivity sets it apart from neighbouring towns. In addition, as it’s situated in the centre of the regional motorway network, Wigan boasts easy access to the rest of the UK. Liverpool and Manchester can be reached within 30 minutes, and London is only 2 hours away. In addition, these distances will be shortened by HS2. (1)
Wigan boasts beautiful green countryside and is “punctuated with historic towns and stunning architecture, stately homes, first class shopping and affordable high-quality housing.” (1)
On the 22nd of March, 2017, Zoopla recorded average asking rents in Wigan to be £490 pcm and average asking prices to be £141,859. (5). Wigan boasts a housing stock of 142,000, and includes a wide range of property types, though Wigan council has plans to build 10,000 new homes in the next 10 years. (2)
In 2010, Wigan was listed as the 11th best buy-to-let hotspot across the country, on account of it’s affordability and its potential for strong yields. (3) In November 2016, Savills’ 5-year forecast predicted a 12% increase in house prices in the North West. (4)
We believe Wigan’s economy is thriving. The town provides a strong base for economic growth in the North of England with its variety of energy efficient business parks (2). In addition to this, “Wigan is home to more than 12,000 businesses, with health, manufacturing and retail being the biggest employers.” (2)
We believe Wigan makes an excellent property investment hotspot. Find out why by clicking on the image below to download our infographic. It includes:
- An overview of Wigan’s housing market
- Historic house price growth in Greater Manchester
- Savills’ 5-year forecast for Greater Manchester
- Wigan’s excellent transport links
- Wigan’s plans for new housing and infrastructure
- Facts about Wigan’s forecasted economic growth
- Average rental yields across Wigan’s postcodes
Written by Jenna Kamal
Blog Text Sources
- http://www.investinmanchester.com/why-manchester/city-region-overview/wigan/
- http://europe.nxtbook.com/nxteu/newsco/gm_propertyinvestmentguide2016/index.php#/2
- http://www.thisismoney.co.uk/money/mortgageshome/article-1689988/Top-100-postcodes-for-buy-to-let.html
- http://www.savills.co.uk/blog/article/209620/residential-property/interactive-map-5-year-forecast-of-uk-house-prices.aspx
- http://www.zoopla.co.uk/market/wigan/
Infographic Sources
- https://en.wikipedia.org/wiki/Wigan
- http://www.investinmanchester.com/why-manchester/city-region-overview/wigan/
- http://www.zoopla.co.uk/market/wigan/
- http://www.rightmove.co.uk/viz/house-price-trendometer/
- http://europe.nxtbook.com/nxteu/newsco/gm_propertyinvestmentguide2016/index.php#/2
- http://www.rentalyield.co.uk/compare-flat-prices-in-wigan/1/
- http://www.thisismoney.co.uk/money/mortgageshome/article-1689988/Top-100-postcodes-for-buy-to-let.html
- http://www.savills.co.uk/blog/article/209620/residential-property/interactive-map-5-year-forecast-of-uk-house-prices.aspx
- https://www.wigan.gov.uk/Wigan-Works/Business/Reasons-to-choose-Wigan.aspx
Disclaimer and Legals
Property Moose does not provide any advice in relation to investments and you must rely on your own due diligence before investing. Please remember that property prices can go down as well as up and that all figures, rates and yields are projections only and should not be relied on. If in doubt, please seek the advice of a financial adviser. Your capital is at risk if you invest. This post has been approved as a financial promotion by Resolution Compliance Limited.
Property Moose is a trading name of Crowd Fin Limited which is an Appointed Representative of Resolution Compliance Limited which is authorised and regulated by the Financial Conduct Authority (no: 574048).
