Where should I buy to let in Greater Manchester?
When looking at where to invest for buy to let, it can be hard to look past the obvious places. Manchester city centre and the Salford Quays/MediaCityUK have earned world class reputations amongst the investment community, and for good reason. Both are at the forefront of the modern digital economy and are attracting people from all over the country who want to live and work in a place with great job prospects and an affordable, exciting lifestyle.
But what if you are looking to get ahead of the curve and invest in Greater Manchester’s next big market before it becomes common knowledge? For that, the obvious place to look is Wigan.
Whilst Wigan is mainly known for rugby league, pies and Uncle Joe’s Mint Balls, it has many features which should interest the discerning buy-to-let investor. Firstly, Wigan enjoys an outstanding location which is both close to the stunning countryside of the North West and also within easy reach of the nearby major cities. Sitting equidistant between Manchester and Liverpool, residents of Wigan can be in the centre of either city in around 30 minutes by a direct train. Furthermore, London is also a convenient two hours away by direct train, and the upcoming HS2 railway will only speed this journey further.
The best location in the world doesn’t mean much if there is no investment in the local area – luckily, Wigan has no issues in this regard, with the local council taking an active role in their town. The recent acquisition of Wigan’s main shopping centre, The Galleries, is a case in point; following years of stagnation, Wigan Council used its shareholder dividend from Manchester Airport to purchase the six acre site and is planning on turning The Galleries into a modern leisure, food and retail centre.
Lord Peter Smith, the leader of Wigan Council, said of the deal: “We have the opportunity to deliver the once in a lifetime regeneration that will transform the city centre.” Other big developments include the aforementioned HS2 high speed rail line which will begin one mile south of Wigan North station – described by business leaders as “the best news to hit Wigan in a long time” – and other residential developments such as the Wigan Pier Quarter.
Wigan Council’s active role in initiating and supporting such schemes has turned Wigan into the sort of forward thinking, desirable modern town which proves so attractive to businesses and workers. It is not a surprise that as many as 20,000 new homes are needed in the city by 2035 in order to meet the demands of a growing population. The fact that there is only land earmarked for 10,000 homes helps to explain the predicted growth in house prices in Wigan over the coming years.
Greater Manchester is going through a boom, making this the perfect time to invest in Wigan. Don’t miss out on this chance to get in on the ground floor – enquire about our newest development, Wallgate Apartments, today. Apartments start from £79,995 and are already proving to be extremely popular!