In the UK, there is a lot that goes into deciding on the right place to buy. The decision gets even more complex if you are buying for an investment as you will have to think a bit more logically rather than thinking emotionally when buying a property. In this article, we go over what the Rightmove data looks like for the city of Wigan so you can make the best decisions and make money on your property purchases. Getting involved in one of the 15 property deals that come off the market each month.
On Rightmove in Wigan, what properties are available to rent?
Understanding education levels in the area of Wigan
In the city of Wigan, the population stands at 150252 individuals. Among this population, it is noteworthy to consider the educational levels. Approximately 19% of the residents hold a higher-level educational degree.
Additionally, the average household income in the area amounts to £37,967.50. This information is significant for renters, as a higher percentage of degree holders compared to the regional average of 22.6% suggests that your neighbours are likely to be higher earners. While other factors influence neighbour quality too, considering the education level remains beneficial as you’d likely want to be around people you are similar to.
Sometimes, buying isn’t suitable for everyone. Fortunately, renting is also an option and there is a lot of data that can be gathered from Rightmove for this too.
In Wigan, in terms of affordable housing and social rent, what does Rightmove data show?
Through some digging, we found the level of social rent in the area. Currently, this figure is 7% as the percentage of people who are leasing directly from the government. In the area of Wigan, the average household income is £37,967.50 too. This is another figure to reference and compare to the £34,000 average national salary to see who is in financial hardship. You may wonder why it is necessary to have this information and the answer is because it’s important you live in an area that suits your income as life is generally more enjoyable when you pick somewhere to live amongst others in a similar situation.
A list of properties for Sale in Wigan on Rightmove
In the area, using Rightmove data, what are most people selling their property for?
The average sold price of properties in Wigan, UK, available on Rightmove is £143,585. See the below table to work out what the sold price is based on detached housing, semi-detached housing, terraced housing and flats.
|Category of property||Average price|
A city such as Wigan has a fair amount of houses for sale on Rightmove. In the following headings, we go over all the relevant data related to Rightmove so you can begin the process of buying a house. Figuring out the best type of property to buy is a difficult process so it is useful to see all the relevant information condensed in one place.
How Rightmove listings in Wigan help you make an investment
In the area, average asking rents are around £663. This tends to differ depending on the size of the property you are buying and the number of rooms they have. You can read more about these metrics below. For reference, the yields in the area are £0.
Combining the data of yield with the price of rent can give you a good idea about the types of investments in the area. For instance, if a property has a low yield and also low rents, it is likely a lower return, single family buy to let in a less in demand area of Wigan.
|Average asking rent||Number of bedrooms in house|
|no relevant data for this city||5|
|no relevant data for this city||4|
|no relevant data for this city||3|
|no relevant data for this city||2|
In Wigan, what are the number of planning permission applications on Rightmove?
On Rightmove, there are a lot of people who plan to make amendments to their property and 8,000 people every month go through the process. In Wigan, this number is 2 every month and the success rate for planning permission is nan.
Rightmove records planning success as a good metric for investors to get a gauge on how familiar people are with renovating their homes. A higher success indicates investors have done improvements before and they are good at renovation. This suggests that if you are looking to buy in Wigan, you may be able to do the same and make some money.
A look into Rightmove’s Wigan property as an Investment
As you delve into the property landscape of Wigan in the region of North West, Rightmove becomes an invaluable resource that provides data that can be looked at every month.
Some standard data that should be examined when trying to understand an area include the number of sales there are every month in the area, which falls at 15. Look at this in accordance with the population of the area, larger populations obviously will generally have more sales as there are more people living there and likely to sell their property. So, look at this as a factor and also check out this link to compare data for other cities in the area.
So, you can look at turnover which looks at property sales every year in relation to the number of houses that exist in the area anyway. Currently turnover is nan. Every decade population change should also be considered. This figure stands at 5% and positive changes generally show there is a growing population no matter if you are talking about a city or a wider region like North West.
A deep dive into rental yield and how this impacts Wigan
As you may be aware, rental yield is an extremely important metric to judge how effective a property is in terms of producing a return on investment. In the city of Wigan, there is an average of £0 for rental yield.
Wigan can be compared to the rest of the UK that tends to have an average of around 4.4% yield where the higher the yield the higher the return on the amount of money in the deal. This is because the area’s rental yield of £0 is first worked out by multiplying the monthly rent by twelve to find the annual rent. Then, you take away the associated costs of the property from the annual rental income to find the net rent. This net rent can then be divided by the purchase price and multiplied by 100 to find the rental yield as a percentage.
How much green space do properties have in Wigan according to Rightmove?
Green space is a vital element that is often compromised in different locations, hindering its availability. For instance, urban areas frequently fall short of the recommended benchmark of 6 acres of green space per thousand people. In Wigan, the available data reveals that there are 13.9 acres of green space per thousand residents. For health reasons, there should be 6 acres.
What are the number of HMOs on Rightmove that are licenced in the area of Wigan?
The average asking price for a House in Multiple Occupation (HMO) in Wigan is no relevant data for this city. Understanding this information is essential for anyone interested in saving some money on rent because Houses of Multiple Occupancy tend to be cheaper to rent than any other type of property.
By opting for shared living arrangements within a HMO, you can also get an ensuite in your room too. The average price of a room with an ensuite in a HMO in the city of Wigan is no relevant data for this city and there are also nan in the area in total. This number of licenced HMO properties should be looked at in relation to the fact there are 56,000 properties that are licenced in the whole of the UK so you can see how much this area contains.