Crossrail causes Slough house price boom

Ryan Bembridge

June 10, 2016

slough

Slough’s housing market has boomed ahead of the Crossrail development coming into operation in late 2018 and with the growth of tech jobs in the area.

House prices in the area rose by 23.3% in the year to May which is the steepest increase of any area in England and Wales, the LSL Property Services/Acadata House Price Index shows.

Prices shot up by £60,000 in one year to average £315,700 in May.

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Richard Sexton, director of e.surv chartered surveyors, said: “Not all parts of the market are struggling.

“There is cause for David Brent to celebrate, as house prise in Slough have surged by 23% year-on-year – more than any other area.

“Property values in Slough have been boosted by the new Crossrail development, with a new terminus coming into operation in late 2018.

“The increase in tech jobs in the town has also helped to lift prices, with O2, Nintendo, BlackBerry and McAfee all located along what has been recently branded the “Silicon Alley”.

“As the fastest growing area in the UK, according to the Centre for Cities, with the number of businesses in the town rising by 29% over the last five years, uncertainty in other parts of England and Wales have not hindered growth in Slough.”

Annual house price growth for the whole of England and Wales slowed to 6.8% in May, down from 7.7% in April.