As the UK property market has been experiencing a significant 'mini-boom' during the current COVID-19 pandemic; renters, first-time buyers and investors have changed their priorities. Due to remote work arrangements and extended indoor confinement, demand for bigger and better spaces has been more prominent than ever.
And we don't only mean larger properties, but also quality outdoor spaces: suddenly, people realise how important it is to be surrounded by parks and communal amenities. As a result, many are currently looking into property just outside of London. Our new development in Slough, Aspire, certainly ticks the boxes for those planning on making an excellent long term investment. If you wish to find your new home or buy to let in Slough, one of the areas where the property boom is currently taking place, then read further for more detailed information.
Big city living often implies what the market labels as micro-living, i.e.residing in small spaces, very minimally. In London, where the average property costs a whopping £650,000, an exodus is being observed by researchers over the last few months. Suddenly living, working and spending down-time in the same space became quite overwhelming; causing what The Telegraph labelled as a 'race to suburbia'.
As always, location plays a vital role: if you are looking for a new home in a town incredibly well-connected to the capital, for example; we can help. From Slough to London, the train journey to Paddington only takes 16 minutes. In addition, Slough has great links to Heathrow Airport. Our forthcoming new build development in Slough is only a 5-minute walk from Slough Rail Station, making our new homes at Aspire the perfect choice for those craving a change whilst staying connected to the big city buzz.
Trends are showing that homeowners want to upsize and want to move out of cities such as London to live in less built-up areas — mortgage applications in cities have dropped by 23pc, according to estate agency Hamptons International, but they are up in small towns and suburbs as renters seek more space for their money.
The upsizing trend is most pronounced in the South-East; where our new development, in Slough, is located. 47pc of tenants added at least one bedroom when they moved, paying an extra £266 per month. As The Telegraph observed, the disproportionate growth here is likely driven by movers from the capital.
Two-thirds of London renters who chose to upsize in August opted to leave the city and move to cheaper locations where they can get more space for their money. Comparing Slough to London, for example, you save around £66,000 per mile (Etopia Corby).
The town is gathering a lot of momentum amongst both first-time buyers and investors looking for opportunity and growth. It is currently undergoing significant regeneration and has been increasing in popularity over recent years. A £3 billion urban renewal and regeneration plan, including Abu Dhabi's Investment Authority's purchase and redevelopment of Slough's main shopping centre, will contribute to a rise in property values over the next 5 years and beyond. The arrival of the Crossrail, named the Elizabeth Line, will have a significant impact on its own: JLL has forecast a 14.8% increase by 2024. High tenant demand is also expected, as the population of Slough is set to grow by 18,000 by 2036.
Our new development in Slough, Aspire, is designed to match the quality and style of a premium London residence, for a more affordable price tag — you can reserve a studio, 1, 2, or 3-bedroom apartment for only £2000. With stunning views of Windsor Castle and Eton College from an 8th storey roof terrace and concierge, residents will also benefit from incredible rural beauty, as the famous Herschel Park amongst a number of other parks and green spaces are only a few minutes away. For those working from home, the fibre optic broadband with 1GB connection speed indeed makes a difference.
Find out more about our new development in Slough town centre and how it presents an excellent opportunity for home buyers by visiting the official website.
Residential developer Click, has agreed a deal to dispose of the entire affordable element of its forthcoming Aspire development in Slough to CBRE UK Affordable Housing Fund, a fund managed by CBRE Global Investors, which invests in social and affordable housing across the UK. by Property Funds World - 16/09/2020 - 4:58PM The fifty affordable units are part of a 238 unit development in Slough Town Centre which is due for completion in early 2022 and will be operated by a leading registRead more
We are delighted to announce that we have reached an agreement with CBRE's UK Affordable Housing Fund for the sale of our affordable homes at our forthcoming development, in Slough town centre, Aspire. The new residential development will comprise of 238 new homes, located in the heart of Slough town centre. The demand for Slough as a hotspot has been growing in popularity over recent years. The arrival of Crossrail and the town centre regeneration, means it has become the ideal choice for bothRead more
On Friday 11th September, Development Finance Today hosted a live webinar, in conjunction with Peritus Corporate Finance, on the topic of the recently extended permitted development rights (PDR). Since the government announced the new Permitted Development Right (PDR) on August 1st 2020, a new class came into play to make it possible to build up to two additional storeys to provide additional flats on top of purpose-built, detached blocks of flats without requiring full planning permissRead more
Robert Jenrick, Housing Minister recently announced a £12.2bn investment fund to deliver 180,000 affordable homes for hardworking families and first time buyers. Click Above are already in a number of discussions with local authorities to deliver new homes in partnership, above local borough assets, including existing residential blocks. This is an exciting prospect and as it uses creative and innovative airspace development techniques to make use of space not normally considered, in a lanRead more