Areas of Cheshire: Buy-to-Let Property Investment Hotspots
The Cheshire property market has something of a cheesy image. It’s often thought of as a place where the housewives of Cheshire and Premier League footballers live in their multi-million-pound mansions. That’s a very misleading image though. While parts of the county do have very expensive property Cheshire still has lots of good value property offering really affordable investments for buy to let investors.
Why Invest in Cheshire?
Cheshire is mainly a rural county on the Cheshire Plain with many small towns and villages. However, much of Cheshire has good access to the conurbations of Greater Manchester, Merseyside and Staffordshire which help boost the property market and create strong demand for rental property.
Most of Cheshire has good transport connections to the rest of the region and nationally too. The M6 and M56 motorways connect many parts of Cheshire. The West Coast Main Line railway runs north to south with stations at Crewe and Warrington Bank Quay and with connections to Manchester Piccadilly, Liverpool, Chester and Macclesfield.
Cheshire has a strong economy across different sectors many of which provide well-paid jobs and again help to support the property market. Cheshire’s key industries include automotive, advanced manufacturing, agriculture, agricultural technology, construction, creative and digital, financial services, life sciences, logistics and tourism.
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Cheshire is covered by, not one but four, different local authority areas. These are Cheshire East, Cheshire West and Chester, Halton and Warrington. You can find out which local authority covers any property investment you are considering, here.
Property investors considering Cheshire should be aware of HS2. The future HS2 high-speed railway line between Birmingham and Manchester will affect property in some parts of Cheshire. Check the planned route of HS2, here.
Property Values in Cheshire
Some parts of Cheshire are very affluent and have very high property prices to match. It’s said that Cheshire has some of the most expensive property in England anywhere outside the southeast.
The area known as the Cheshire Golden Triangle between Wilmslow, Alderley Edge and Prestbury is a particularly high property price area.
According to Zoopla figures Cheshire property prices are only around the national average at £270,000, however.
There are plenty of places to find cheap property in Cheshire if you know where to look. Zoopla reports that you can buy property in Cheshire starting at around £50,000.
The most expensive urban area to buy in Cheshire is Knutsford followed by Wilmslow. The cheapest places to invest in property in Cheshire include Crewe, Ellesmere Port, Runcorn, Warrington, Widnes and Winsford where property prices are all still well under the national average.
Rental Demand in Cheshire
Cheshire offers investors all kinds of buy-to-let opportunities. Cheshire landlords can let out to locals, those coming to work in the area and those who are unable to afford Cheshire property prices.
Many parts of Cheshire are also popular for lets to those who commute to the towns and cities of the northwest, such as Manchester and Liverpool. Locations close to the M6 or M56 or with a railway station are best for the commuter market.
Cheshire can offer strong yields for property investors who buy in the right places. According to property xyz, landlords can expect yields of around 4% to 5% in many parts of Cheshire.
Property Investment in Cheshire
Here’s our guide to property investment in the larger towns of Cheshire.
Population: 118,000 approximately
Average House Price: £305,246
The City of Chester has Roman origins dating back to AD70. It’s known for being the most complete walled city in Britain.
Chester’s history makes it one of the UK’s main tourist cities. Marketing Cheshire says the Chester area attracts 35 million tourist visits a year and earns £2 billion for the local economy.
Chester has many other industries too which helps support the property market. Key industries in Chester include public services, financial services and high tech. industries such as biotechnology.
Chester Business Park is a major employment location with 6,000 people working there. In the wider Deeside area other key industries include manufacturing, advanced manufacturing and distribution.
Chester has great road and rail connections meaning it is also a popular place to live for those who work around Cheshire.
The Chester Northgate scheme now underway should help to revitalise the city centre. Northgate is planned to be a new leisure destination with a cinema, new market, cafes, bars, restaurants and new co-working spaces.
Chester scores highly in quality of life surveys making it a sought after and higher-price property location.
Read more about the buy-to-let property market in Chester.
Population: 26,400 approximately
Average House Price: £288,272
Congleton is in southeast Cheshire close to the border with Staffordshire and on the edge of the Peak District. It has good links by rail and road via the A34 and to the M6 at junction 17.
Congleton is also a popular commuter spot with those who work in Macclesfield or Staffordshire. Congleton has its own light manufacturing and service industries providing local jobs and so demand for rentals too.
Population: 71,700 approximately
Average House Price: £222,773
Crewe is one of the largest towns in Cheshire and very much a working town. Crewe is most famous for being a railway town and the location of Crewe Junction. It is also known as the home of Rolls Royce motor cars, and now Bentley. Crewe is an employment hotspot with many important employers at sites such as Crewe Business Park.
Crewe has excellent transport connections being on the West Coast Main Line (London around 1 hour 35 minutes) and by the M6. There will also be a future HS2 station at Crewe.
Crewe is a good value Cheshire property location. There are plans for Crewe town centre regeneration which should make it more attractive as a place to live and work.
Property investors who are interested in Crewe might also consider the town of Nantwich just to the west.
Population: 61,200 approximately
Average House Price: £198,203
Ellesmere Port is in north-west-Cheshire on the Wirral peninsula. It has good connections via the M56 and M53 towards Merseyside, Greater Manchester and Chester.
Ellesmere Port is mainly an industrial town with chemicals works, an oil refinery and motor manufacturing works in the vicinity all of which provide many jobs. The large Cheshire Oaks Designer Outlet and Blue Planet Aquarium, which attract many visitors, are here.
Figures provided by the Home.co.uk Market Rent Summary show that the average rent in Ellesmere Port is currently £575 PCM. Gross average rental yields in Ellesmere Port are around 4.5%, according to property.xyz.
Population: 15,000 approximately
Average House Price: £546,544
Knutsford has good access to the M6 at junction 19 and to the M56 making it a popular residential location for commuters using the motorway network, to Manchester and Manchester Airport. Knutsford is known for its proximity to the Tatton Park estate, which is a popular leisure destination, and its town centre with many independent shops and eateries.
Knutsford is an upmarket Cheshire residential location with high average property prices.
Statistics supplied by the Home.co.uk Market Rent Summary show that the average rent in Knutsford is around £1,168 PCM. Gross average rental yields in Knutsford are tight at around 2.9%, according to property xyz.
Population: 51,500 approximately
Average House Price: £324,194
The market town of Macclesfield, sometimes known as Macc for short, is on the edge of the Peak District around halfway between Manchester and Stoke-on-Trent.
Macclesfield has good access by rail to Manchester (20 minutes) and the Midlands. This makes Macclesfield and the surrounding villages like Bollington a popular Cheshire commuter area.
The one-time textile town of Macclesfield also has its own range of local industries and employers too which provide many jobs. Pharmaceutical company AstraZeneca has a 101-acre research and manufacturing centre in Macclesfield which employers around 4,000 people.
Figures provided by the Home.co.uk Market Rent Summary show that the average rent in Macclesfield is currently £783 PCM. Gross average rental yields in Macclesfield are around 2.7%, according to property xyz.
Population: 20,200 approximately
Average House Price: £279,490
Northwich is a market town on the River Weaver. Northwich is historically the centre of the UK salt mining industry and today is a light manufacturing and service centre. Its rural location in the heart of Cheshire together with a range of local employers make Northwich a popular small town.
Northwich has good rail and road connections towards the M6 at junction 19.
Figures provided by the Home.co.uk Market Rent Summary show that the average rent in Northwich is currently £638 PCM. Gross average rental yields in Macclesfield are around 3.7%, according to property xyz.
Population: 61,800 approximately
Average House Price: £169,707
Runcorn is in north Cheshire across the River Mersey from Widnes. Runcorn is a one-time new town that has expanded fast over the decades. Runcorn has great transport links via the M56 and towards Liverpool via the Mersey Gateway Bridge.
Runcorn is a working town with key industries including manufacturing and chemicals. The nearby Inovyn ChlorVinyls plant employs around 750 people directly.
Runcorn is a good value Cheshire property location. Some of the cheapest properties to be found in Cheshire, are in Runcorn.
Population: 17,900 approximately
Average House Price: £292,404
The market town of Sandbach is located directly on the M6 motorway at junction 17. There are also national rail services between Manchester Piccadilly, Liverpool Lime Street and Crewe from Sandbach station at nearby Elworth. Good access makes Sandbach a popular commuter town.
Cheshire East Council’s HQ is located at Westfields in Sandbach.
Figures provided by the Home.co.uk Market Rent Summary show that the average rent in Sandbach is currently £638 PCM. Gross average rental yields in Sandbach are around 3.4%, according to property xyz.
Population: 210,000 approximately
Average House Price: £245,190
Warrington was originally a new town formed in the 1960s and has grown fast over the last few decades to become the largest town in Cheshire.
Warrington is right by the M6, M56 and M62 and has great rail connections on the West Coast Main Line railway with direct trains to Chester, Manchester, Liverpool, London and many UK towns and cities.
Warrington is a jobs hotspot that helps create high demand for accommodation. Warrington has enjoyed an economic boom over the last few years, say CityMetric.
The economy is based around modern industries including logistics, professional services, science and technology, digital, energy and advanced engineering and manufacturing. Thousands of people work at the large Birchwood Park and Omega business parks in Warrington.
Warrington Borough Council also has a 20-year vision, the Warrington Town Centre Masterplan, to improve Warrington's town centre. There are also plans for a new Garden Suburb to the southeast which could have 7,400 new homes.
Figures provided by the Home.co.uk Market Rent Summary show that the average rent in Warrington is currently £606 PCM. Gross average rental yields in Warrington are around 3.6%, according to property xyz.
Read more about the buy-to-let property market in Warrington.
Population: 61,500 approximately
Average House Price: £196,077
Widnes is located in north Cheshire across the River Mersey from the rest of the county and is historically part of Lancashire. Widnes is in the borough of Halton.
Widnes has great transport connections by rail and road to locations such as Liverpool, Warrington and North Cheshire. The new Mersey Gateway bridge has made Widnes more accessible in recent years and made it even more attractive as a place for a business location.
Widnes is an important working and industrial town with industries including chemicals, manufacturing and logistics.
Widnes is a good value Cheshire property location.
Population: 25,500 approximately
Average House Price: £480,605
Wilmslow is a small town around 11 miles south of Manchester and on the A34 road. Wilmslow has excellent road and rail links into Manchester, and to Manchester Airport, making it an attractive commuter location.
Wilmslow and nearby locations such as Alderley Edge are upmarket and expensive Cheshire residential locations.
Figures provided by the Home.co.uk Market Rent Summary show that the average rent in Wilmslow is currently £1,804 PCM. Gross average rental yields in Wilmslow are around 2.9%, according to property xyz.
Population: 34,200 approximately
Average House Price: £194,105
Winsford is located on the River Weaver which divides the town into two parts. Winsford’s claim to fame is that the UK’s main rock salt mine which is operated by Compass Minerals is located near the town. There is also a range of local light and manufacturing industry.
The headquarters for Cheshire West and Chester Council, Cheshire Constabulary and Cheshire Fire & Rescue Service are also located at Winsford and are important to the local economy.
Winsford is a good value property location. Property investors interested in Winsford might also consider nearby Middlewich.
Statistics provided by the Home.co.uk Market Rent Summary show that the average rent in Winsford is currently £618 PCM. Gross average rental yields in Winsford are around 3.9%, according to property xyz.