best buy to let areas in bolton graphic

The Best Buy-To-Let Areas In Bolton

The Best Buy-To-Let Areas In Bolton

Like many neighbouring towns across the North West, Bolton is a former industrial heavyweight that is once again showing positive signs of progress. Property investment in Bolton has largely been the domain of local buyers, but we expect broader domestic and international interest to increase over the coming years.

We explain why in this buy-to-let guide for Bolton, part of our ongoing series of UK Area Guides.

We’ll cover:

  • Bolton’s history and life today
  • Why Bolton is a good choice for buy-to-let investors
  • The best areas for a buy-to-let in Bolton

Overview

At the height of Britain’s industrial revolution in the early 20th Century, Bolton was a major hub of textile manufacturing. Wool and cotton spinning mills dominated the local area, stimulating growth and development.

Of course, this couldn’t last forever and the decline of the British textile industry led to a period of stagnation for the town. But now, Bolton is enjoying a revival.

A service-based economy has largely replaced the manufacturing past. The local university, The University of Bolton, brings 6,000 students to the town every year. And, sitting just ten miles outside of Manchester city centre, it’s a popular choice for commuters.

Furthermore, there are extensive regeneration and development projects in place:

  • A £1 billion masterplan covers five mixed-use schemes in the town centre – Church Wharf, Croal Valley, Trinity Quarter, Crompton Place, and Cheadle Square – which will bring new homes, offices, retail space, transport links and leisure facilities.
  • Capital&Centric, the social impact developer with several famed projects in Manchester, has started work on a mixed-use hub in nearby Farnworth. The company also has plans for a similar development in Bolton town centre.
  • Moor Lane is a new mixed-use development of townhouses, apartments, and retail space in the town centre.
  • Bolton College of Medical Sciences (BCMS) is a new £40m healthcare training centre, helping develop 3,000 staff for the NHS each year. Work started in 2022, with the facility due to open in 2024.

 

There are strategic plans and additional funding in place to spur wider regional development in Farnworth, Horwich, Little Lever, and Westhoughton. Over the next decade, the entire region will see unprecedented levels of public and private investment.

Why Is Bolton A Good Choice For Buy-To-Let Investors?​

Bolton is a good choice for buy-to-let investors because the local property market is showing fast improvements. A 2021 report by Halifax found that average property prices in the town had increased by 16.9% year on year, compared to a national average of 6.2%. This put Bolton 8th in the UK for property value growth.

Bolton has a clear plan to transform the entire region, extending beyond its history as a borough on the edge of Greater Manchester to becoming a leading residential and economic hub in the North West. These plans will drive further growth in local property prices.

So, for an investor, now is a good time to get in – especially if you consider that the average property price is £203,000, far lower than the average in Manchester (£293,000).

There are a variety of other factors that make Bolton a strong investment choice, too. For example:

  • It’s just 15 minutes from Manchester. This makes the town extremely popular with commuters who live in Bolton but still have easy access to Manchester for work and leisure. Investors benefit from a larger pool of tenants and high rental demand.
  • The University of Bolton generates a fresh pipeline of students and young professionals. Investors can benefit from high-yielding student accommodation.
  • Bolton’s current regeneration and development plans are expected to deliver more than 4,000 new jobs, 2,000 new homes, £565m of GDV by 2040. This will have a substantial impact on property and rental prices.
  • If you’re interested in a buy-to-let investment in Bolton, get in touch with our team to discuss your options.

Top 5 Buy-To-Let Areas In Bolton

So, now we understand the investment case for Bolton, let’s consider the best areas for a buy-to-let.

By using industry data, we’ve ranked the top five postcodes with the highest rental yields.

Postcode Avg asking price 5yr price growth Avg asking rent (pm) Avg yield
BL4 £186,746 43% £861 5.50%
BL3 £202,240 25% £846 5.00%
BL5 £261,981 22% £1,043 4.80%
BL6 £250,549 23% £998 4.80%
BL1 £219,470 8% £842 4.60%

BL4

  • Average Asking Price: £186,746
  • 5-Year Price Change: 43%
  • Average Asking Rent (Per Month): £861
  • Average Yield: 5.50%

 

BL4, covering Farnworth, is an excellent choice for buy-to-let investments due to its affordability and high yield. Farnworth is one of four district centres in the region set to receive significant investment, with £13m worth of works planned for the town centre. These plans, along with its proximity to central Bolton and the substantial 43% property price increase over the last five years, suggest strong future capital growth potential.

BL3

  • Average Asking Price: £202,240
  • 5-Year Price Change: 25%
  • Average Asking Rent (Per Month): £846
  • Average Yield: 5.00%

 

The BL3 area, including Little Lever, Great Lever, and Deane, is known for its community feel and local amenities. Little Lever is another one of the four district centres, with £16m worth of investment planned. The area’s steady 25% increase in property prices over five years reflects its growing popularity, and it’s particularly well-suited for families and professionals given the local schools, parks, and access to Bolton town centre.

BL5

  • Average Asking Price: £261,981
  • 5-Year Price Change: 22%
  • Average Asking Rent (Per Month): £1,043
  • Average Yield: 4.80%

 

BL5 covers Westhoughton, an area known for its semi-rural appeal and charming character. Again, Westhoughton is one of Bolton’s four district centres, so it will benefit from a package of regeneration and development projects over the next decade. This should support further growth in the local property market, in addition to the 22% growth over the past five years.

BL6

  • Average Asking Price: £250,549
  • 5-Year Price Change: 23%
  • Average Asking Rent (Per Month): £998
  • Average Yield: 4.80%

 

The BL6 postcode, encompassing Horwich, Blackrod, and Lostock, is attractive for its mix of urban and countryside living. This area is popular among families and professionals, offering good schools, leisure facilities, and proximity to the West Pennine Moors. The area’s connectivity to Manchester via the M61 adds to its rental appeal. With a consistent property price rise and a solid yield, BL6 is a solid choice for investors focused on long-term growth.

BL1

  • Average Asking Price: £219,470
  • 5-Year Price Change: 8%
  • Average Asking Rent (Per Month): £842
  • Average Yield: 4.60%

 

BL1 encompasses Bolton’s town centre. The area’s appeal is boosted by its rich mix of amenities, including shopping centres, restaurants, and cultural attractions, as well as its proximity to the University of Bolton, making it popular among students and young professionals.

Furthermore, BL1’s varied housing stock and urban appeal, coupled with ongoing developments in the town centre, signal the potential for future growth beyond the 8% achieved in the last five years.

Considering a buy-to-let in Bolton?

We’re here to help you source and purchase exceptional buy-to-let properties in an ethical manner, at no extra cost. We draw on years of experience supporting investors across the North West of England and beyond, to find the perfect property for your goals and budget.

Get started by filling out the form below, and one of our team will be in touch.

All information is accurate as of December 2023.

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