Slough Property Market 2021 Report

Where favourable comparisons end is when you compare the current average to the UK housing market.

Surprisingly, despite the Covid-19 pandemic, the UK property market thrived over the past 12 months.

It thrived so much, in fact, that the average UK property price surpassed £250,000 for the first time ever. Rates were rising at their highest level since 2004.

Property prices in Slough are around 18.57% higher than the average UK property.

Similarly, the UK growth rate over 2020 surpasses Slough, increasing by 8.50%.

However, due to its location and proximity to London (you can reach the capital in less than 20 minutes), such low prices are pretty much unheard of.

As you can see from the table above, properties in Slough offer the highest rental yields out of five nearby areas.

Property prices in the town are also some of the lowest, making it an ideal spot to invest in the area.

Overall, the South East is expected to see rent prices rise over 2021, with an 11.5% rise by 2024 according to JLL.

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.

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.

Stamp 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.

Halifax has predicted a -2% growth over the coming year, whereas Rightmove has provided the most optimistic estimates at 4%.

The minimal growth predictions have been attributed to a potential slow economic recovery after the third national lockdown.

However, covid-19 has proved how difficult it is to predict property prices with accuracy. Furthermore, these predictions were made before the announcement that the stamp duty holiday has been extended by three months.

With this in mind, it’s likely property prices could increase by far more than just 1%.

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.

House price rise 2016 and 2015 were at the highest rate in the UK.

Between January and December 2015, prices increased by over £40,000 – an 18.16% rise.

This was a substantial growth compared to the previous year. Property prices in Slough were 18.69% higher in December 2015 than in 2014.

These levels of growth continued into 2016, where property prices in the first five months were over 20% higher year-on-year, peaking in June 2016 with a 24.38% increase over 2015.

Looking back further still, since 2000, Slough property prices have increased by a whopping 192.49%.

For comparison, that far surpasses London, which grew by 149.07%, and the UK as a whole, which increased by 168.63%.

Over the last 10 years, Slough price growth has similarly been strong. Since December 2010, prices have increased by 65.05%. Again, this considerably surpasses the UK average growth.

After peaking in April 2020, with prices of £920,444, London experienced a mini-crash, with falling house prices dropping by £133,817 in just three months – a 14.54% decrease.

Prices only got worse across the year, and finally ended at £784,006 – the latest figures.

While many cities experienced a lull in prices in lockdown, most cities saw a resurgence towards the end of the year. This makes London property a risky investment now, as it’s unclear when, and if, falling house prices will recover.

It’s been a similar case for several years. While London prices have been increasing over the last 10 years, there’s been many peaks and troughs suggesting market instability.

Take a look at this London House Prices Graph 10 years.

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