Blog
Slough estate agent’s forecast for the local property market
Tuesday, July 12, 2016
With a fantastic location under 20 minutes from Heathrow and London, on the M4 and close to the M25, Slough boasts a vibrant community (one of the most ethnically diverse in the UK), a thriving £2.5 billion economy and ambitious investment plans underway. So what does our Slough estate agent forecast for the local property market there?
A £450 million redevelopment of the town centre, ‘The Heart of Slough’ is creating a leading edge cultural hub for the creative media, information and communication industries. In addition to the town centre regeneration plan, SEGRO plans to spend £600m improving the Slough Trading Estate, to create environmentally sustainable buildings, open green spaces, a new conference centre, restaurants and improved transport facilities. Herschel Park, has also been landscaped to restore it to its former Victorian era glory and if all these projects go to plan, approximately £1bn will be spent over the next 20 years on redevelopment.
Named as ‘Britain’s Boomtown’, by the Observer, Slough will also benefit from the arrival of Crossrail in 2018 with direct connections to London’s main employment centres and by 2019 Western Rail Access will connect Slough to Heathrow in just 6 minutes. Plans for two new hotels within one 10-storey building on the old library site in Windsor Road in Slough have recently been granted planning permission by councillors as part of the Heart of Slough project which provided a new bus station, cultural centre and office developments.
Sales Manager, Lee Henry says “With all this in place, Slough’s property market is flourishing; property prices here are rising faster than the national average. Slough saw an annual increase of 19% on average, with houses being priced typically at about £236,000 in February 2016. This reflects that those wanting a property in London but who are unable to afford it are looking at towns within commuting distance. This figure is likely to increase significantly over the next few years due to Crossrail and an increase of jobs in the town.”
Monthly rental prices in Slough are also predicted to increase significantly due to pressures of strong demand on a limited supply. HSBC identified Slough as one of the Top Buy to Let Hotspots in the UK with gross yields of around 7%.
For current information on Slough’s local property market please contact your local property expert in our Slough office on 01753 820000.
