Featured Investment Area: Rossendale

Average House Prices in Rossendale

According to the latest data from Rightmove, properties in Rawtenstall had an average price of £250,696. Most of the properties sold in the last 12 months were terrace houses, with an average selling price of £184,551. This strong demand for terrace properties is a good sign for investors looking for buy-to-let properties, especially as terraced properties command the smallest initial outlay.

The price of a two-bedroom terrace property in Rawtenstall can vary but they can be purchased from £150,000 and would typically achieve a rent of £750pcm giving a gross yield of 6%. A three-bedroom terrace can be purchased from £180,000 and would typically achieve £950pcm giving a 6.3% gross yield.

Bacup sees lower average house prices, with the average terrace property selling at £119,702 over the last year according to Rightmove. A two-bedroom terrace in ready-rent condition can be purchased from £100,000 and would typically rent in the region of £650pcm, giving a gross yield of 7.8%. A three bedroom terrace in good condition can be purchased from £135,000 and would typically rent in the region of £775pcm, giving a gross yield of 6.8%.

Haslingden offers similar returns with a two-bedroom terrace purchased in the region of £100,000 achieving a rent in the region of £700pcm, providing a gross yield of 8.4%. A three bedroom terrace property could be bought from £150,000 and would typically rent in the region of £800pcm, giving a gross yield of 6.4%.

*These are approximate figures based on statistics and properties for sale at the time of writing Oct 2024. These could vary and exact figures would be based on your property and market trends.

Transport

Rossendale has fantastic motorway links to nearby Manchester and Preston. Rawtenstall is a convenient location for commuters across Lancashire and Greater Manchester. It also has excellent bus links to the surrounding areas, thanks to the modern bus station which opened in 2021. Bacup also has strong bus routes and connects the area to Burnley. Todmorden Train provides locals with access to bigger towns and cities further afield.

Education in Rossendale

Rossendale boasts some excellent schools, both primary and secondary. St James the Less RC, St Mary's CofE, and St Mary's RC Haslingden are all highly regarded primary schools in the area and Bacup & Rawtenstall Grammar School is a well-renowned secondary school. The impressive range of schools in the area will appeal to families looking to rent in the area.

Amenities

Rossendale may be a collection of picturesque towns with leafy landscapes, but there's still plenty to do, and lots of appeal for renters. There are several contemporary bars and restaurants to enjoy, including Northern Whisper Rawtenstall Tap Room, a popular spot for cask and keg beers, right in the heart of Rawtenstall. Britain's last remaining traditional Temperance Bar, Fitzpatricks is a favourite for those looking for an alcohol-free experience in favour of classic beverages like dandelion and burdock. Bacup residents will gravitate towards The New Inn or The George and Dragon.

There’s many options for shopping in the area, New Hall Hey shopping centre has a great selection of big-name retailers including M&S, Iceland, Home Bargains, Aldi and more. Elsewhere, the area is home to prize-winning clothing shops, Ivy Label, Sophie's Boutique, and Sunday Best, which will appeal to anyone interested in women's fashion. Living in the area, residents can enjoy independent shops dotted throughout Rossendale, whilst still benefiting from the bigger supermarkets nearby.

Overall, Rossendale is a great place to invest due to the combination of convenient amenities, strong transport links and affordable house prices that make the area an attractive proposition for a variety of different renters.