Property Investments Hotspots: UK Towns are Rivalling London
Property investments hotspots:
It is no longer news that some investors are no more buying properties in London.
Also, there is a shift in housing market activity for renters too.
Nowadays, commuter towns and regional cities are gaining grounds.
Out of the lots, Birmingham takes the lead.
A city is a favourite place for most people leaving London.
Nevertheless, several regional towns are also making headway.
There is an increase in demands for rentals in these towns.
Also, house prices are increasing.
Even the South East is involved in this new trend.
Bicester, Bracknell, and Slough are some of these towns.
Slough, in particular, was known as a dull place to stay.
However, it is now becoming a place for many to live in the Crossrail route.
There are certain common factors in these three towns.
Foremost, there are plans and execution of regenerations and investment projects.
Similarly, the prices for properties and rents are lower than their neighbouring cities.
Lastly, the towns are witnessing great project and current growth.
All these cumulate to bring a change in the property market in the UK.
Bicester is popular for its awesome shopping outlets.
Lower property prices play an important role in this.
However, there are other factors drawing people to this town.
This location is just 15 minutes away from the centre of Oxford.
Additionally, it takes just 45 minutes to commute here from central London.
Therefore, it is great for people that want quick access to Oxford or London.
Affordability of the property values is its main advantage.
In Oxford, average property cost is £510,753.
London’s average property cost is £729,105.
However, properties cost much lesser in Bicester.
The average property price in Bicester stands at £329,165.
The property prices in London and Oxford make them unaffordable for many.
Hence, they choose the closer towns such as Bicester.
Resultantly, there is an increase in the popularity of this town.
Moreover, investors are spending millions of pounds on properties here.
This is through its popularity as a garden town.
Also, the Cherwell District Council’s 20-year Growing Bicester initiative is available.
This initiative targets building lots of properties in Graven Hill.
These properties are mainly buy-to-let units and self-build apartments.
Furthermore, Bicester is located around Cambridge and Oxford.
Thus, it is one of the fastest growing economic hubs in Oxfordshire.
Currently, the town has a population of about 30,000 people.
However, its population projection should be around 50,000 residents by 2032.
Bracknell is the centre of the place known as UK’s Silicon Valley.
Consequently, there are lots of investments coming into the town.
Several reasons are responsible for this development.
Firstly, The Lexicon came into Bracknell a few years ago.
This £240million retail and leisure hub ushered in lots of changes.
Some of the popular retailers are now occupying the destination.
These include Marks and Spencer, Fenwick, and L’Occitane.
Fascinatingly, this town draws the attention of technology firms.
Also, it has one of the highest proportions of employees with the UK’s biggest companies.
In comparison to the UK average of 8.4%, Bracknell has 16.2%.
In addition, Bracknell is about an hour journey from London.
Similarly, this town is close to Ascot.
Nonetheless, its average property price is less than half of that of Ascot.
Notably, Ascot’s average house price is £826,804.
Comparatively, that of Bracknell is £362,338.
Most developers now share the sentiment.
Resultantly, they are developing more properties in Bracknell.
SevenCapital is one of such developers.
Their ongoing developments are The Grand Exchange and One Thames Valley.
Slough is found around the Crossrail line into central London.
This positioning draws investors to the town.
Slough to London Paddington takes just 18 minutes by train.
Also, this town is now a hotspot for residents in the UK.
It is recently awarded as one of the three topmost places for London commuters.
Slough is getting more attractive day by day.
This is mainly because of a £1 billion project that started in 2012.
This project is for 15 years and offers the town so many developments.
The developments will affect both the community and commerce of the town.
Furthermore, the Western Rail Access to Heathrow will help Slough.
In just six minutes, people can move from Slough to Heathrow Airport.
Similarly, O2 Telefonica, Ferrari, and other global companies have investments in Slough.
Factually, only London has more concentration of global companies than Slough in the UK.
After the announcement of Crossrail in 2019, house prices have increased by over 66%.
However, the prices are still significantly lower than London’s prices.
The average property price in Slough stands at about £400,000.
Savvy investors are already shifting their attention away from London.
Bicester, Slough, and Bracknell are some of the hotspots investors target now.
Three opportunities are available for investors.
Firstly, the entry prices for investments are lower.
Secondly, capital growth potential is quite higher than in other places.
Thirdly, investors can get higher rental yields.
The director of SevenCapital, Andy Foote, commented on this development.
He noted that the emergence of other places in the nation.
These places are getting more commercial, technology, and retail investments.
All these factors make these areas more promising for property investors.
He furthered said that London is already losing its appeal.
This is because the city has reached its peak.
There are not many opportunities available for property investors again.
Therefore, investors are now focusing on these new hotspots.
You can also start investing today.
Invest in these new hotspots and get great yields later.
If you need advice on property investment, contact Reneza.
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