Wigan, located in Greater Manchester, is becoming a prime location for property investment. Its affordability, strong rental demand, and substantial regeneration projects make it an attractive choice for investors seeking both immediate returns and long-term growth. Here’s a detailed guide to Wigan’s investment potential.
What Makes
Wigan’s Property Market Stand Out?
As of September 2024, the average house price in Wigan is £187,000, reflecting a 3.2% annual increase from the previous year. This affordability, combined with its proximity to Manchester and Liverpool, makes Wigan a popular choice for investors looking for value and growth.
Industry experts forecast house price growth of 10.2% by 2028, driven by ongoing regeneration projects, improved transport links, and strong local demand.
Property Market Overview
- Affordability: With average house prices at £187,000, Wigan remains one of the most affordable towns in Greater Manchester.
- Rental Yields: Consistent yields between 6-8% make it ideal for buy-to-let investors.
- Tenant Demand: Growing demand from young professionals, families, and commuters ensures steady rental income.
Where to
Invest in Wigan?
Key Investment Areas
• Town Centre: High rental demand from professionals due to its transport links and amenities.
• Hindley: Known for strong rental yields and affordable property prices, ideal for buy-to-let investors.
• Ashton-in-Makerfield: A family-friendly suburb with steady demand and good schools.
• Standish: Popular among families and professionals, offering consistent capital growth.
Regeneration Projects Driving Growth
- Wigan Pier Regeneration: A £60 million project transforming the iconic Wigan Pier into a mixed-use development with housing, leisure, and retail spaces.
- The Galleries Shopping Centre Redevelopment: A £135 million project to create a new retail, residential, and leisure hub, enhancing the town center’s vibrancy.
- Transport Upgrades: Plans for a new transport hub and electrification of railways will improve connectivity, making Wigan even more attractive to commuters.
Why Are
People Investing
in Wigan?
Few factors for investing in Liverpool.
Property prices in Wigan are significantly lower than nearby Manchester, providing excellent value for investors.
The town benefits from its proximity to employment hubs and the ongoing investment in infrastructure and local businesses.
Wigan is well-connected by road (M6 and M58 motorways) and rail, with direct trains to Manchester, Liverpool, and London.
Major developments, such as the Wigan Pier regeneration and the New Markets Quarter, are enhancing the area’s appeal.
Excellent schools, green spaces, and community-focused areas attract long-term tenants.
Promising Postcodes
- WN1 : Strong rental demand and accessibility to amenities.
- WN2 : High-yielding areas perfect for buy-to-let opportunities.
- WN6 : A mix of affordability and long-term growth potential.
Why Wigan is Perfect for Property Investors?
Wigan is a market that combines affordability, strong rental yields, and a growing economy. Its strategic location, ongoing regeneration, and excellent transport links make it a highly attractive destination for property investors. Whether you’re looking for buy-to-let opportunities or long-term capital growth, Wigan has something to offer.
Wigan’s unique position as a commuter hub with affordable property prices and high yields makes it a perfect choice for savvy property investors. Now is the time to explore this thriving market!
- Average House Price: £187,000
- Rental Yields: 6-8%
- Projected Growth: 10.2% by 2028
- Major Regeneration Projects: Wigan Pier, New Markets Quarter, Galleries Shopping Centre
- Population Growth: Steady demand from a growing population of professionals and families
- Connectivity: Direct links to Manchester, Liverpool, and London