I Also did a seperate piece comparing Warrington and Bolton.
I always like to see how Warrington's property market is preforming against the local towns however its something I have not done for a few months, however a landlord with a small property portfolio came into our office in Warrington Bankside last week. He lives between Wigan and Warrington, in Lowton, and has properties in both towns. He wanted to ask our opinion on where he should his next Buy to Let property.
Looking at Wigan, the average property price can be an impressive £100,000 and the average rent is equally high at £450 per month. In Warrington, an average property is £105,200 and the average rent is only £635 per month. The annual yield in Wigan would be around 5.4% per year, compared to Warrington where he could achieve an annual yield of nearer 7.2%.
It made me consider two other towns close by, Frodsham and Altrincham. I was not to surprised to find property values are much higher than in Warrington, with an average property price in Frodsham, of £210,000. They have an average rent of £675 per month, which could achieve a yield of 3.8%. The average price of a property in Altrincham is £384,950, with rents of around £995 per month. This could achieve a yield of 3.1% per year.
It goes to show our town of Warrington is still a good area for an investment property, but it is a decision that shouldn't be taken lightly. These are only averages, so the yields for some small to medium sized properties in popular areas of Warrington can achieve yields of 6.5% to 9% per year.
The figures I have used to obtain this information are directly from the Online Portals and they are average’s. There are BTL deals to be found in any town, its all about knowing where to look and when to look, and who better to ask than a local independent agent in that town. We pride ourselves on giving our landlords up to date local property news. We share our thoughts with local investors, and we are all from different areas within Warrington so we have good knowledge of our town right down the streets that rent well and the ones that don’t.
Looking at Wigan, the average property price can be an impressive £100,000 and the average rent is equally high at £450 per month. In Warrington, an average property is £105,200 and the average rent is only £635 per month. The annual yield in Wigan would be around 5.4% per year, compared to Warrington where he could achieve an annual yield of nearer 7.2%.
It made me consider two other towns close by, Frodsham and Altrincham. I was not to surprised to find property values are much higher than in Warrington, with an average property price in Frodsham, of £210,000. They have an average rent of £675 per month, which could achieve a yield of 3.8%. The average price of a property in Altrincham is £384,950, with rents of around £995 per month. This could achieve a yield of 3.1% per year.
It goes to show our town of Warrington is still a good area for an investment property, but it is a decision that shouldn't be taken lightly. These are only averages, so the yields for some small to medium sized properties in popular areas of Warrington can achieve yields of 6.5% to 9% per year.
The figures I have used to obtain this information are directly from the Online Portals and they are average’s. There are BTL deals to be found in any town, its all about knowing where to look and when to look, and who better to ask than a local independent agent in that town. We pride ourselves on giving our landlords up to date local property news. We share our thoughts with local investors, and we are all from different areas within Warrington so we have good knowledge of our town right down the streets that rent well and the ones that don’t.
As always, if you are an investor in the Warrington property market and would like a second opinion on a property you have seen then send the URL of the properties you have seen online over to me or you would like to pop in and have a chat, then you can either email me on manoj@hamletwarrington.co.uk or call on 01925 235 338. Our address is 6 Bankside, Crosfield Street (opposite Iceland and Aldi – so plenty of parking available). The kettle is always on and we will even pull out the posh biscuits!
Don't forget to visit the links below to view back dated deals and Warrington Property News.
Twitter, https://twitter.com/HHWarrington
Website, http://www.hamlethomeswarrington.co.uk/
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