As London continues to wane in popularity for investors and renters alike – with increasing numbers of people moving out of the capital in favour of more affordable locations - towns along the commuter belt, such as Bracknell, Slough and Basingstoke, are fast coming to the forefront as viable, and increasingly lucrative alternatives.
The Berkshire town of Slough is certainly reaping the benefits, having recently been named one of the top three commuter destinations in the UK. Also recently voted as the Top Place to Live and Work in the UK by Glassdoor for the second year running, Slough is beginning to attract more young professionals than ever before, driving tenant demand and making it an ideal destination for savvy investors. But how is Slough maintaining this position as an investment hotspot?
Slough’s investment potential can be attributed to several factors; affordability, improved transport links, commercial opportunities and a £1 billion, 15-year regeneration project that started back in 2012. Slough is establishing itself as both a key commercial and commuter hotspot with the introduction of Crossrail and Western Rail Access to Heathrow (WRAtH), as well as being home to the largest concentration of global businesses in the UK outside of London.
When these infrastructure projects go live, Slough and its residents will have faster direct access to both Heathrow and central London while maintaining a much more affordable lifestyle in the Slough market.
It’s no wonder then, that Countrywide research revealed it as the top destination for tenants moving from London with 46% of homes in Slough being let to London renters.
This unprecedented tenant demand also coincides with a growing appetite for apartment living - increasingly tenants are looking for a contemporary, stylish home at the heart of the action with everything they need nearby.
Data from Home.co.uk shows that Slough apartment prices increased in value by 29% between January 2017 and October 2018, demonstrating not just its potential as a savvy investment opportunity but the growing demand for this asset type.
The Slough Urban Renewal (SUR) project has also played a huge part in raising Slough’s profile, rejuvenating the cultural and economic landscape for the town while building new iconic landmarks such as The Centre, an £18 million leisure facility and The Curve, a library and cultural hub for the town.
All of this redevelopment has had a knock-on effect on overall property prices, with increases of 35% by 2020 being forecasted according to research by real estate property services firm JLL. While this is partly due to Crossrail, it could also be attributed to Slough’s position as an employment hotspot helping generate this surging demand.
By Property Investor Today.
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