Town centre property in high demand
Against the current economic and political climate, research from Savills has revealed that the greatest demand for UK property in the short to medium term will centre around urban areas, especially those within a commutable distance of the Capital – increasingly making locations like Reading and Crowthorne look like sound investment choices for buyers.
Neil Simpson, Marketing and Sales Director at developer, Bewley Homes, says: “Buyers moving out of London can take advantage of a significant price difference between property in the commuter zone and that of the Capital with very few compromises in terms of either accessibility or lifestyle.
“Towns such as Reading and Crowthorne retain excellent transport links – not only to London but to other destinations in and around the South East – and also offer an urban lifestyle which many buyers today are seeking.”
Indeed, demand for town houses in urban areas has been so prevalent over the past decade that Savills has identified the average price over this period has increased by as much as 27%, whereas larger priced country properties remain lower in value than they were in 2007.
“There is no doubt that buyers, when making the most significant financial decision of their lives, want the reassurance of investing in a location which is likely to rise in demand and, by dint of this, value over a period of time.
“The headlines are often filled with stories of how inaccessible private home ownership is for first time buyers but very few identify how difficult it can be for second steppers to move up the ladder. The increasing cost of moving home means that, for many buyers, they want to find a property which will fulfil their needs over the medium to long term in order to avoid the hassle and cost of moving house in the short-term.
“Our Parklands Development on the edge of Reading and our soon to be launched Oakham Park development in Crowthorne are both excellent examples of where buyers can invest with confidence in a high standard property which will stand the test of time, situated in a location which, because of its links and proximity to the Capital, is highly likely to significantly rise in demand and value in the medium to long-term.”