Areas of Blackpool: Buy-to-Let Property Investment Hotspots
Blackpool is best known for being a seaside resort, for Blackpool Tower and for Blackpool Illuminations. Blackpool is less well known for being one of the top ten cheapest places to buy a property in the country. Here’s how Blackpool stacks up as a place to invest in buy-to-let.
Why Invest in Blackpool?
Blackpool is one of the biggest visitor destinations in the country. Blackpool has around 18 million tourist visits every year. The town is famous for its sandy beaches, donkey rides, Golden Mile amusement arcades, its three piers and the annual Blackpool Illuminations which stretch for seven miles along the promenade.
Some of Blackpool’s attractions include Blackpool Tower, Blackpool Tower Ballroom, Blackpool Pleasure Beach, Blackpool Zoo, Sea Life Blackpool, Sandcastle Waterpark, The Grand Theatre and Winter Gardens. It also has a party town reputation with lots of pubs and bars.
Blackpool is in Lancashire. It has an area population of around 140,000 making it one of Lancashire’s largest towns. Local services in Blackpool are provided by Blackpool Council.
Blackpool is part of a wider region known as The Fylde. Some parts of the wider Blackpool area are in other local authority areas such as the Borough of Fylde and Wyre District. You can find out which local authority covers any particular area, here.
Blackpool has great transport links. It is connected to the national motorway network via the M55. Blackpool North train station has direct services on a modern electrified line to destinations like Preston, Bolton, Liverpool, Manchester, Manchester Airport, Birmingham and London Euston. Blackpool also has Blackpool Airport, although it currently has no passenger services.
Blackpool has great transport links. It is connected to the national motorway network via the M55. Blackpool North train station has direct services on a modern electrified line to destinations like Preston, Bolton, Liverpool, Manchester, Manchester Airport, Birmingham and London Euston. Blackpool also has Blackpool Airport, although it currently has no passenger services.
Blackpool also has an extensive local transport network with Blackpool Transport buses and a tram network making it easy for workers and visitors to get around. Blackpool Tramway runs from Starr Gate in the south along the seafront to Fleetwood. A new tram line to connect the network to Blackpool North station opened in June 2024.
Tourism, hospitality and leisure are major employers in Blackpool, although much of this is seasonal work. Other Blackpool employers are in services, public services and light manufacturing. Blackpool Victoria Hospital also provides many jobs. Other significant employers in the wider Blackpool area include the energy sector, nuclear energy and aerospace.
Blackpool is not just about tourism. Blackpool is working to develop its commercial and industrial sectors too which should also help to create more jobs in the town and benefit the property market here. Blackpool Airport Enterprise Zone covers land at Squires Gate, Blackpool Business Park and Blackpool Airport to the south of the town. The eventual aim is to attract more than 180 new businesses, help create up to 5,000 new jobs and secure over £300m of private sector investment. Since 2016 Blackpool Airport Enterprise Zone has attracted 114 new companies and more than 1,600 new jobs for the area.
Property Values
Blackpool is a very good-value property area compared to the rest of the country. The average property price across the Blackpool area is £172,000, with a median price of £145,000. The average Blackpool property costs only 68% of the price of the average property in England.
Blackpool offers some really cheap investment property. The most affordable place is 'FY1 1' with an average price of £74,000.
The average property price in Blackpool has risen 7% from the previous year and 10% from the peak of 2019. The current average listing price is £161,318, up by 5.58% since six months ago.
Blackpool’s property market is on track for another year of record growth. The firm Search Acumen is predicting that Blackpool’s property market will break the £250 million barrier this year.
Average Asking Price by Postcode Area
Last updated: August 2024
Data from propertydata.co.uk
| Postcode District | Average Asking Price |
|---|---|
| FY1 | £113,146 |
| FY2 | £164,485 |
| FY3 | £155,170 |
| FY4 | £162,106 |
| FY5 | £193,983 |
| FY6 | £276,263 |
| FY7 | £158,318 |
| FY8 | £290,096 |
Rental Demand
The buy-to-let market in Blackpool offers opportunities to let to local residents and those who come to work in the area, particularly seasonal workers. There are also opportunities to provide holiday accommodation and short-term accommodation in Blackpool.
Home.co.uk's Blackpool Market Rent Summary shows that the average rent in Blackpool is £702 per month. Blackpool landlords could expect to earn an average of £499 PCM for a one-bed property, £705 PCM for a two-bed property, £857 PCM for a three-bed property and £793 PCM for a four-bed property.
Low property purchase prices but solid rents mean buy-to-let investors can find attractive letting yields in Blackpool.
Average Rental Yield by Postcode Area
Rental yield is the rental return an investor can expect on their investment once costs have been taken into consideration.
Last updated: August 2024
Data from propertydata.co.uk
| Postcode District | Average Rental Yield |
|---|---|
| FY1 | 6.5% |
| FY2 | 5.6% |
| FY3 | 5.8% |
| FY4 | 4.6% |
| FY5 | 4.6% |
| FY6 | 3.9% |
| FY7 | 4.4% |
| FY8 | 3.5% |
Property Investment in Blackpool
Blackpool has a varied property market offering different opportunities for property investors. In the centre of Blackpool, the main property type is traditional terraces some of which are divided into flats. The Blackpool suburbs offer mainly detached and semi-detached family-sized properties and bungalows.
Central Blackpool stretching down to the South Shore area is where many of the small hotels and B&Bs for which the town is famous will be found. It’s also a residential area too. Central Blackpool property appeals to tenants who need easy access to the town centre amenities including those who work in Blackpool town centre. There is also scope for short term lets in these areas. Central Blackpool areas have some of Blackpool’s best value properties.
North Blackpool districts stretching out along and behind the North Shore include Anchorsholme, Bispham, Little Bispham, Cleveleys and Thornton forming Thornton Cleveleys. While more small hotels and B&Bs will be found along the seafront, they are also residential areas and appeal to families and retirees. Properties on or near to the beaches may be lettable as holiday lets.
Further to the north is the separate small town of Fleetwood (population 25,000). Fleetwood has its own local amenities and a regular tram service into Blackpool. A one-time small resort Fleetwood is now mainly a working town and residential area.
Districts to the east of Blackpool include Carleton, Common Edge, Grange Park, Great Marton, Hawes Side, Hoohill, Layton, Little Marton, Mereside, Queenstown and Warbreck. These areas are mixed residential and commercial areas appealing mainly to local residents. These districts have good access to Blackpool town centre as well as the M55 for those who need to travel or commute outside the Blackpool area. Some of these districts have good access to green space around Stanley Park and Marton Mere.
Further out is the separate small market town of Poulton le Fylde. Poulton, as it is usually known, has a population of around 18,000, its own good local amenities and a train station on the Blackpool-Preston railway line. It is a favourite residential district for those who want to buy or rent away from the bustle of Blackpool. Prices in the area (Wyre district) are around 30% higher than in Blackpool.
To the south of Blackpool itself is the separate small seaside town of Lytham St. Annes, which is comprised of Lytham, St. Annes, Ansdell, and Fairhaven. Lytham St. Annes has its own shops and services and railway stations on the Preston to Blackpool South line. Lytham St. Annes is much quieter than Blackpool. It is popular with families and retirees and is a smart residential area. Prices in this area (Fylde district) can be up to 50% more expensive than in Blackpool itself.
Property investors interested in Blackpool property investments might also consider property investment in the nearby city of Preston.