For investors hoping to capitalise on this demand for commuter areas in the UK, there are some towns in particular that are gaining attention as hotspots for buy-to-let investment.
In the North West, Warrington is a popular commuter town that offers some huge benefits for investors and tenants alike. Ideally located between Manchester and Liverpool, those who live in Warrington are able to reach each of these major cities by train within half an hour or less.
Not only is Warrington perfectly placed for commuters working in Liverpool or Manchester, but the town itself also boasts a thriving business scene. The area has become a base for a range of leading businesses across industries such as technology, energy, manufacturing and logistics. This gives those who rent in Warrington the choice of travelling to a larger city for work or enjoying the opportunities available right on their doorstep.
A big selling point that’s driving demand for rental properties in Warrington is the cost of rents in the area. The average rental price in Warrington is currently £839 according to data from the Office of National Statistics. Compare this to Manchester’s average £1,310 rental price, and those who rent in Warrington are saving almost £500 a month.
For investors, an average property price of £239,000 gives an average rental yield of around 4.2% to those owning buy-to-let property in Warrington. Capital growth prospects are also high thanks to extensive regeneration in the area. Savills predicts average house price growth of 29.4% by 2029, while data from UK House Price Index shows that in the five years since February 2020, the average price for all property types in Warrington has grown by 29.7%.
