Wondering if now is a good time to sell your property in Wigan? You’re in the right place. At We Buy Any Home, we know the property market is extremely dynamic. With so many factors at play, finding the right time to sell can be extremely difficult.
After all, the last thing you want is to be caught in the middle of a property crash, still holding on to an investment and watching the value of your property dwindle day by day. Of course, making the decision to sell is also just another piece of the larger jigsaw. You also need to be able to sell, and sometimes time is of the essence.
We’ll cover both of these aspects in this article, including the current state of the property market in Wigan, the future outlook, and how you can sell.
Let’s get started.
Are house prices going up in Wigan?
So, let’s first take a look at what the property market looks like. To do this, we’ll first look at house prices in Wigan based on the average asking price of properties currently on the market and then compare it to actual selling prices.
So, at the time of writing, the current average asking price of property stands at £232,091. This is an increase of 5% from the previous year.
However, the actual selling price currently stands at £160,006, which is around -4% lower than the previous year at the same time.
Now, this may seem conflicting but remember there are many factors at play here. The type of property, the condition of the property, and even the location of a property can all change how much the property is actually worth.
However, if you compare Wigan property prices of today compared to fifteen or twenty years ago, then property prices have definitely increased by a considerable difference. So for those who purchased the property earlier in the last decade, there’s serious profit available.
Is Wigan up and coming?
Another important factor to consider before selling is to check how the location is changing. New development and new amenities can add value to your property as more people look to move to the area. On the other hand, if the city is turning for the worse, then the demand for properties in the area will reduce – ultimately resulting in lower property values.
With that said, we can confirm that Wigan is taking development seriously. This includes the Wigan Pier redevelopment and the £135 million redevelopment of The Galleries. Beyond this, Wigan is increasingly becoming a more popular choice among commuters looking to escape the perils of major cities such as Manchester or Liverpool.
So all in all – yes, Wigan is up and coming as the town is continually trying to improve. However, you should definitely research other cities and towns to determine how Wigan compares.
Is now a good or bad time to sell property?
To determine this, we need to consider all of the above. So, based on the above information. We can gather that property prices are stable on a year to year basis but have increased considerably over the years combined. At the same time, Wigan is continually developing and working towards creating a better town for residents. All of this leads to the conclusion that Wigan does have demand, and people are ready to buy in Wigan.
Now deciding if it is the right time to sell will depend on your personal situation. If you purchased your property a few years ago, then chances are you’ll be able to make a profit when you sell. This is as long as the property has been maintained, is in a good location, and there is demand for the property.
Ways you can sell
So, if you have decided that you’re ready to cash in and sell your property in Wigan, you have a few options available to you; they are:
High street agent
When selling a house in Wigan, using a high street agent can be a great option, especially if you choose someone experienced and reputable. They will handle the entire process and offer guidance throughout. However, there will be additional costs for this option.
Keep in mind that selling through an agent may not always lead to a quick sale. On average, properties in Wigan take around 115 days to sell. Some properties might take even longer due to issues like their condition or location, which can result in more extended negotiations.
If a fast sale is a priority, considering other selling methods might be worth exploring. But, for those who need professional support and expertise, a reliable high street agent is still the best choice.
Auction
An auction can be another option for selling a house in Wigan if you want a quick sale. This is because all the interested buyers will gather on a chosen date to make bids on the property, speeding up the process compared to traditional methods.
However, be aware that it may not always go to plan. The final selling price may not always reflect the best possible price that you could have got on the open market unless your property is in high demand. There is also a risk that the minimum bid might not be met during the auction, which could mean starting the selling process again.
Cash house buyers
Cash house buyers offer the quickest way to sell your property in Wigan. Since they have the funds available and don’t require a mortgage, the sale process can be completed much faster than traditional buyers.
However, it’s important to do your due diligence when dealing with cash buyers. Some individuals and companies may not have the funds readily available, which could lead to delays and wasted time. Make sure you request confirmation before proceeding to sign any contracts.
Another thing to consider is that cash house buyers often expect a lower sale price as they provide convenience and speed. This means you may not get the highest possible valuation for your property.
At We Buy Any Home, we are cash house buyers in Wigan and can help you sell your property in as little as seven days. We also make offers based on the actual market rate of the property to ensure you receive the best valuation possible. Additionally, unlike other options, there are no additional sales or hidden fees with our service; this is because we have our own solicitors and surveyors, so we can take on the costs instead of you.
You can receive a free cash offer in as little as seven days; simply leave your details at the bottom of the page.
Ultimately, as property prices remain stable and Wigan continues to be a town in demand – it is indeed a great time to consider selling.
However, make sure to carry out some research and get some quotes to understand how much you are likely to receive if you sell.
Once you are ready, don’t forget to weigh up your options on how to sell to ensure it works for you.
