Slough Property Market 2024 Report
Explore the latest data for the Slough property market 2024 in our new guide to Slough property prices. Read more!
All About the Slough Property Market
When you think of property investment, the Berkshire town of Slough probably doesn’t come to mind.
After all, thanks to the comedic efforts of Ricky Gervais in The Office, Slough has built up a dismal reputation of being drab, dull, and boring.
Dig a little below the surface, though, and you will find what could be the next best property market in the UK. Seriously.
The town has undergone essential regeneration over the past five years, with flocks of businesses and professionals moving to the area.
Situated ideally in the London commuter belt, Slough boasts London opportunities but without the London prices.
If you’re serious about property investment and want to get ahead of the curve, the Slough property market is something you should be taking a closer look at.
This report will cover the Slough property market in-depth, including average Slough house prices, a Slough property market forecast, regeneration initiatives like Slough Crossrail, employment opportunities, and more.
This is the ultimate guide to the Slough property market in 2024.
If you want to invest in Slough, be sure to fill in your details on this page and talk to our property specialists today to uncover all your options.
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House Prices in Slough 2024
As of March 2023, Slough house prices are around £320,969 on average, according to the latest from the House Price Index.
This is a 5.57% growth compared to the same period in 2022.
This may seem relatively high, especially comparing it with other buy to let hotspots like Liverpool and Manchester, where average property prices fall below £250k.
During the same period, the average UK property currently sat at a record high of £285,009, according to the House Price Index, meaning Slough is higher than that too.
However, in context, Slough house prices offer some of the best property value due to its proximity to the capital.
You can typically expect to pay a premium when purchasing a property in South East locations, but this value gets even higher when located near London.
Slough has the best connectivity in the South East, with access to London and Heathrow in a matter of minutes.
This makes the town and the price of property even greater.
Slough offers fantastic value, especially when comparing it to London property, with average values of nearly £1 million.
Due to Slough’s position and appeal for workers, anything significantly below London’s average property price could be considered an outstanding deal.
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Rental Market Slough 2024
As it stands, the average rent is around £1,963, according to home.co.uk.
This is higher than the UK average calculated by Homelet, which sits at about £1,213.
While this is good news for investor pockets, these values are only set to increase over the coming years.
These excellent property values and sizable rental costs paint a perfect picture for rental yield.
Rental yield is often considered the most crucial aspect of property investment.
It calculates how much money you earn as a percentage of your initial investment through rental income.
Based on Zoopla’s 2023 data, you can expect the average property in Slough to generate yields of up to 6.09%.
These yields get even higher depending on what type of property you buy. For instance, one-bedroom flats will generate sizeable rental returns of 5.2%.
While this may concern you, it’s essential to view these statistics in context.
Firstly, South-East locations often command a premium price. This is especially true when you consider proximity to London.
Property in Slough is uniquely placed as perhaps the definitive commuter town in the region. The town was voted the second-best location in all of Europe for connectivity.
This accolade is demonstrated by the fact that Slough can reach Central London and Heathrow in just 18 minutes.
Secondly, Slough rental yields are superior to nearby locations in Berkshire.
As you can see from the graph, house prices in the region have continued to increase over the year. The latest data from February shows that rental figures in the area are now £1087, which is 7.7% higher than the year prior.
This trend is likely to continue over the coming years, which is good news for property investors in Slough.
Now that we know the current market rates, let’s look at what happened to Slough house prices over 2020.
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Slough House Prices 2020
Despite a hurricane of a year that decimated so many lives and livelihoods, the property market experienced some massive growth levels.
These levels were at direct odds with what many experts believed would happen.
Doom and gloom were certainly on the cards when the first UK lockdown was implemented. However, the market saw an unprecedented uplift as restrictions on property were eased in May 2020.
As you can see from the graph, there was a strong upturn in Slough property investment come May, with a striking 7.51% increase by October 2020.
Prices did slip slightly to the end of the year, perhaps as the market settled down, but prices were still up over January by a considerable 2.7%.
While the dip may not be attractive on the surface, December 2020 was 3.75% higher than the year prior.
So, why did this growth occur while many experts anticipated cataclysm?
Through government activity and personal changes amongst residents, levels of interest in property remained high and increased by around 40% post-lockdown.
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Changing Habits After Lockdown
When analysing the property market, many experts forgot to consider how tenants would change post-lockdown in a context other than money.
While financial implications were certainly felt amongst homeowners and tenants, the most surprising change was how people started to think about their home.
Research from leading experts like Rightmove and Benham and Reeves found that there had been a consistent change amongst residents in what they want out of a property.
According to Rightmove’s study, around 37% of residents now want space to work from home. In a similar vein to this, 35% want faster broadband speeds to cope with the working from home life, while 31% want a garden.
Similar results were found by Benham and Reeves. The estate agent ranked the top 10 tenant priorities and compared them to results from previous years. These results were quite surprising.
As you can see, the most significant changes were for outside space and a nearby park, jumping from 7th and 9th to 2nd and 3rd.
Excellent transport links fell from the top spot to 1st, while private gyms dropped from 6th to 10th.
This data is crucial to consider as a property investor. It’s vital these facilities, or most of them, are provided to tenants; otherwise, you could face little interest in your property.
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Download GuideStamp Duty Tax Holiday
Another key factor contributing to the consistent rise in property market interest has been the stamp duty tax holiday.
Announced in July 2020 and originally planned on ending in March 2021, the holiday has allowed investors to save thousands on their property purchases.
Stamp duty tax is a tax paid on property purchases in England and Northern Ireland. Due to the tax-saving holiday, investors saved over £4,500 on average, with the potential to save as much as £15,000.
The holiday has recently been extended until the end of June, so if you’re a property investor, you have more time to save some serious money.
To calculate stamp duty rates on your property purchases, be sure to use our stamp duty calculator.
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So, will house prices go up in 2024? Well, the Slough property market forecast is incredibly optimistic over the coming years.
While other southern locations like London are set to see a slow recovery in house prices after the economic uncertainty of the last year, the Slough property market forecast is expected to see tremendous growth.
Prices in the South East property market are predicted to increase by 16.7% over the next four years, according to Savills.
Nationally, opinions vary on how much growth is expected over the coming years.
Most experts anticipate minimal growth over 2024, as inflation and interest rates continue to remain higher than forecasters would like.
However, the housing market performed better than expected throughout 2023 and property prices grew month-on-month in October and November, indicating a market finding its feet again.
With this in mind, property prices may increase by the end of the year.
Overall, the Slough property market forecast is one that investors should get excited about. If you’re asking, “will house prices go up,” then you’re in luck. Thanks to its location and promising financial future, the time to invest in the Slough region is now if you want to take advantage of lower prices.