Despite a turbulent year, the UK property market has performed exceptionally, soaring to a 16 year high for its property prices. As the global outlook improves, foreign investors are looking for their next property investment opportunity.
Since the Covid-19 Pandemic, most companies have evolved their working model. Tech firms and establishments have relocated from the big cities to promising new estates. Remote work has displaced working in offices. Now, tenants & buyers re-evaluate what they want out of their property - their ideal work-home environment.
Touted to be the future of smart cities, Reading’s a hot commodity to buy a home in the UK. meets the evolving needs of tenants and buyers and is expected to reap handsome returns. Here are 5 Reasons Why Reading Is The Choice Real Estate Investment.
1. Fastest Growing Economy in The UK
For aspiring startups or angel investors, Reading’s the place to be. Second only to London, Reading has the largest concentration of SMEs and businesses (364.6% per 10,000 population).
Its economic outlook continues to rise with a forecasted 1.1% increment per annum. Reading was rated as the 2nd best place for work productivity (£83,801 per job) and the 6th highest employment rate in the UK.
Reading’s performance and potential growth has got it the deserving accolade of being the top 10 most attractive European cities for Foreign Direct Investment in the FDI European Cities & Regions of the Future.
- Today, Reading is home to 13 of the world’s top 30 brands (including Microsoft, PepsiCo, Cisco, Symantec, Oracle Corporation, Prudential, Verizon, Thales and Bayer). You can expect an increase in property value as more multinational companies move in over the next decade. Invest in UK properties today through the latest Huntley Wharf development.
2. New Transport & Infrastructural Developments
There’s a reason why Reading has the 2nd highest housing stock growth in the UK. Thanks to the £900 million investment for the Reading station, you can get to London city within 30 minutes via a direct line, or to Heathrow Airport in under 40 minutes.
Reading currently holds the title of Fastest Growing City in the UK with newly minted and upcoming business parks. These include:
- Forbury Place - 370,000 sq ft of international HQ space
- Station Hill – 900,000 sq ft office, residential, and retail
- University of Reading’s Science and Innovation Park
- Thames Valley Park - 1,500,000 sq ft office, residential, and retail
- Winnersh Triangle
Expect better infrastructure to facilitate efficient freight capacity and transport. The Network Rail plans to modernise the Great Western route, as well as a 3.8km rail tunnel as part of a new Western Rail Link to London Heathrow Terminal 5 to be operational this year.
With The Crossrail, commuters can travel from Reading Station (10 mins walk from Huntley Wharf) to London Paddington in 23 minutes! Furthermore, Reading Station will be upgraded with a 600 lot bicycle parking hub.
The Royal Elm Park development will host new transport measures, such as subsidised local public transport, a new transport hub, and shuttle bus services to help relieve congestion.
3. World-Class Education & Tech Facilities
Reading defends their title for the best A-level results in the country for the fourth consecutive year. Reading University ranked 30 in the World University’s ranking. 54% of the working population holds a degree level or equivalent.
True to its reputation as the Silicon Valley of the UK, Reading has transformed from a manufacturing centre into a hub for IT, telecoms, tech. and digital businesses within the last few decades. They continue to attract real estate investment with the increased demand for tech/digital jobs.
Thanks to a strong performing tech sector, Reading’s gross value added forecast (2.2%) surpassed the UK's average of 1.7%. Multinational & tech companies continue to offer well-paying jobs to recruit the best talent.
It’s a strategic time to buy a home in the UK at Reading. Reading’s rental market is booming with tenants like these having more spending power. Most rentals are let within one week of being marketed. Should you be interested, check out the Huntley Wharf project in Reading.
4. The Forefront of Green & Sustainability Initiatives
As a smart city, Reading is primed to be a green city. Most facilities are designed to reduce environmental impact and for sustainable living. These include energy-efficient heating systems, high levels of insulation, incorporating the advancements in technology to improve driving efficiencies and reduce fuel wastage.
Marina and nature reserves will be an integral part of the city. Some residential areas would also incorporate acres of ecological areas, including ponds and reed; for residents to observe wildlife living in its natural habitat.
Under Reading 2050, Reading aims to become a city that can adapt to climate change. As a self-replenishing and self-reliant ecosystem, Reading will have all its resources locally sourced and consciously educate all its residents of their responsibility to live within their limits.
5. Ethnic & Cultural Diversity
In an environment where ethnic and cultural diversity is highly valued, Reading paves the way for its counterparts. McKinsey reported companies with diverse gender and ethnic executives are likely to perform 27% better than their counterparts.
Across the Borough, Reading residents speak 150 different languages in their homes. Reading is also the 10th city in the UK with 18.6% of the population born outside the UK.
Conclusion
If you are looking to buy a home in the UK, or make a real estate investment for rental purposes, Reading is your choice location. It’s a property investment bargain with relatively cheaper prices in the South East region and property letting yields at 4.6%. No doubt you can reap handsome returns. Just in the past 25 years, Reading properties have quintupled in their value.
Interested in Reading’s real estate? Check out the latest development to find out more.
