Reading is a major UK university town situated on the River Thames around 40 miles from London, and it’s becoming a key location for property investors.
Famed for its university which ranked number 30 in the World University Rankings 2019, as well as its status as the Silicon Valley of the UK owing to the high number of tech businesses based there, Reading in Berkshire also has a thriving property market. Here are 7 reasons why property investors are looking at Reading right now.
1. Great transport
Situated only 30 minutes from London by train, Reading is also just 40 minutes from Heathrow Airport, while the M4 is also on the doorstep. The new Elizabeth Line (Crossrail) is also set to open its doors in Reading at the end of 2019, meaning those travelling into London will be able to get right across the city without changing trains. This investment is likely to boost the area’s popularity among those looking to commute into London, which is great news for property investors in Reading.
2. World-class university
The University of Reading is internationally renowned, attracting 19,000 students from more than 150 countries every year. This is a huge footfall in the town, attracting widespread investment as well as job creation, and makes the area a bustling place to be.
3. Young professional population
With a high proportion of university students staying on in the town after graduating, as well as graduates from elsewhere moving to the city because of its location and job opportunities, this spells major opportunity for those wanting to invest in an area with a very high rental demand. Generation Rent is primarily made up of young professionals, although the demographic is getting older as people step onto the property ladder later.
4. Future prospects
Reading came in seventh in FDIIntelligence’s small European cities of the future listing, while it was listed 25th overall in the European cities of the future 2018/2019. The Thames Valley Berkshire Local Enterprise Partnership (LEP), which encompasses Reading, came in second place in the UK due to its low unemployment rate of 3.6% and the second highest level of GDP per capita after London, proving Reading is a town on the up.
5. Top place for business
A recent survey by Management Today listed Reading as the fifth best place in the UK to do business, beating major locations such as Birmingham, Nottingham and Glasgow. Citing its “ambitious vision for its future”, Management Today also noted the fact that Reading has the highest wages outside London. More than £7m has also been invested in the Reading Central Business Improvement district over the past 10 years, with more planned for the future.
6. Idyllic location
Nestled between the North Wessex Downs Area of Natural Beauty (AONB) and Chiltern Hills AONB, Reading offers the best of both worlds for urban dwellers wanting beautiful countryside on their doorstep. This can be a huge selling point for those leaving London for a better quality of life.
7. Strong economy
Reading took Manchester‘s crown as the town or city forecast to see the most growth in the UK over the period 2018-2021 in EY’s latest Regional Economic Forecast. Reading’s gross value added (GVA) forecast is set at 2.2%, surpassing the UK average of 1.7%. This is partly down to its strong technology sector, which is expected to grow further with 3.5% expansion over the next three years, accounting for almost a third of all jobs in the town.
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