Housing prices in reading are on the rise with a series of terraced properties being the highlight sold across the past year. The average terraced home in Reading is selling for around £330,000 whereas semi detached properties deliver an average sold price of £389,000. Flats for sale in Reading are holding steady at around £242,000.
With an overall average home price of £362,000, Reading remains a substantial value on some other nearby communities. With Caversham delivering an estimated property value of roughly £449,000, Earley coming in close at £381,000 and Emmer Green delivering an estimated average property value at £454,000, Reading remains a popular place to invest due to its lower buy-in ratio.
Reading homes have risen in value by more than 8% since the year 2016 and although there was a rise in value within the past year, homes in this area are not experiencing the same explosive growth that can be seen throughout other parts of the country. As growth continues in other neighboring communities and is average home values rise, it's expected that Reading will soon see the same type of explosive growth in home values. This stabilization is not expected to continue for long.
A series of new home construction the development of open up the market with the chance for investments into new real estate. More established listings are still preferred with a slight uptick in overall property value for older and established homes over newer homes. With an average of £402,000 for established properties and an average of £398,000 for newly built property, it seems like more people investing in this area are focused on an established home.
Most properties sold between August of 2018 in July of 2019 ranged between £300,000-£400,000. This represented 26.9% of the market with the second most category ranging between £250,000-£300,000. It's more difficult to find entry-level housing in this area and Reading is quickly becoming a very prestigious address for anyone willing to invest in housing here.
Currently, the Reading postcode is ranked 23rd amongst the 105 postcode areas in England and Wales for its property values. As property values are only continuing to escalate in this area, it could be just a short amount of time before Reading moves up the list even further for its average property price. Cambridge and Croydon are currently some of its closest competition with Ilford and east London as potential targets for an overtake in average property value if there is explosive demand.
Compared with the average costs across England and Wales, Reading has separated itself consistently since the year 2013 and is experiencing a much better level of stabilization in real estate value when compared to other markets that have been in a slight downturn since 2018.
Investing in nearby areas could prove difficult in postcodes like Slough whose home prices typically range just above £515,000. Other close postcodes with Reading that are perfect for more entry-level buyers can include Swindon which has an average home price ranging around £280,000. Reading sits at a fine average between excellent value and potential for growth in 2019.
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