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Why invest in Reading?
- Second best city for growth in the UK (PwC 2019)
- Fastest growing economy between 2018 and 2021 (Ernst & Young 2018)
- Top 25 most attractive district for foreign direct investment (Financial Times)
- 25 minutes from the centre of London with 200 trains a day
- 42,000 people employed in tech jobs attracting thousands of affluent young professionals
One of the most up and coming commuter hubs near London, Reading is particularly attractive for people looking to escape the expense and pace of life of the capital for a more appealing situation on the outskirts. However, it’s not just for commuters, as the jobs market in Reading is thriving, particularly in the technology sector.
Reading is a historic university town offering character, charm and a huge range of amenities and entertainment for its residents. With London to the east, the Chiltern Hills and North Wessex Downs to the north and west, both of which are Areas of Outstanding Natural Beauty, there are plenty of reasons to consider Reading as a property investment location.
Property investments in Reading
Gentrification on the high street
Reading’s town centre is a bustling hub of coffee shops, bars, restaurants and shops, with new, trendy places continuing to pop up. The overall appearance of the centre is continually improving, boosting its street credibility among people considering moving there.
This has come hand in hand with the expansion of technology jobs available in the city attracting young people, as well as the exodus of Londoners in search of a different pace of life who are attracted to nearby Reading. This creates a snowball effect, attracting more businesses and investment to the town which boosts the housing market.
Homes for every taste
From brand new developments to period properties, large houses to flats, and even commercial to residential conversions offering city centre-style living, the housing market in Reading has a lot to offer.
House prices are currently an average £362,047 according to Rightmove (November 2019), and the market has been extremely resilient to Brexit – house prices have risen around 8% since 2016 when the EU referendum took place, up from £334,644. The pricing levels can be a tale of two cities; Reading was recently named as the place with the highest number of million-pound properties in the UK, yet investment property prices remain competitive.
As a commuter hotspot, Reading recently came in 31st place of 115 areas to live outside London according to Totally Money, scoring particularly well in its affordability levels in comparison to similar towns.
You can reach central London in just 26 minutes by direct train, while by car it is just over 40 miles. Heathrow Airport is also just 26 miles away, with its international connections offering access to the rest of the world. As mentioned above, some of the country’s most beautiful scenery can be reached within a short drive of Reading, making it an ideal location for people looking for the best of both worlds.
The upcoming Crossrail Elizabeth Line will connect Reading directly to London and across the city without having to change trains, which will transform the commutes of many people living in Reading and will inevitably attract more residents.
Excellent rental prospects
Rental prices in Reading tend to be higher than the national average at around £1,150 a month, and there is huge demand for rental properties among the town’s young professionals in particular.
Reading has around 44,000 people employed in the creative industries, which is the fourth highest in the UK, while it also boasts a concentration of tech businesses eight times higher than the national average (Living Reading). A large number of students at the prestigious Reading University stay on after graduation, further adding to the young professional workforce who are likely to want to rent in the town.