There are many good reasons for living and investing in Swindon, but the most compelling one of all is that property prices are significantly cheaper than anywhere else in the South West and along the M4 corridor.
That is certainly the reason why more and more people are choosing to live in Swindon and commute to near neighbours like Bath, Bristol, Oxford and Reading.
According to the latest data released by Rightmove, the average asking price of a home in Britain currently stands at £337,371.
In the South West the average asking price is £350,600, but in Swindon the average is a much lower £251,379, making it an oasis of affordable homes in the South West.
“Not only is it far cheaper to buy property in Swindon, but employment levels and average salaries are also high compared to the UK average,” says Sue Gidney, Managing Director of Home Finders.
“Whatever the budget, for residential buyers the reality is that you get a much nicer home for your money in Swindon than you do elsewhere in the expensive South West. That also means first-time buyers are not priced out of the market in the same way.”
“We are seeing growing interest from out-of-town house-hunters, especially first-time buyers and young professionals. And we are also attracting investors who realise that Swindon property prices are significantly lower than neighbouring cities while rental returns are almost identical.”
The Swindon property market offers reasonably priced homes for every taste, whether that means new builds in developments like Wichelstowe and Tadpole Garden Village, classy Victorian and Edwardian houses in Old Town and Lawn or fixer-uppers in neighbourhoods like Rodbourne and Gorse Hill.
For £350,000 in Swindon you could buy a 4-bedroom detached home in one of the town’s newer estates like St Andrew’s Ridge, Taw Hill or Haydon End. You would pay the same price for a 1-bedroom apartment in Folly Bridge, Central Oxford.
With a budget of £250,000 in Swindon you could secure a really nice three-bedroom house in areas like Moredon or West Swindon, ideal family homes or buy-to-let investments. For quarter of a million you would be lucky to get a small one-bedroom apartment in Bath.
At £150,000 in Swindon the market offers a wide range of properties for first-time buyers, including numerous two-bed contemporary apartments in North Swindon. The same price would typically buy a tired one-bedroom apartment in one of Bristol’s less sought-after neighbourhoods.
If you’re an investor a buoyant jobs market means a steady stream of renters looking for properties, and despite the recent closure of the Honda factory, the overall picture in Swindon remains positive with established employers like Nationwide Building Society, Zurich, the UK Research Councils, Intel, npower and Cranfield University to be joined by the likes of Amazon and the town’s burgeoning tech sector centred around hubs like the Carriage Works.
Sue Gidney adds: “As prices continue to spiral in neighbouring cities and as commuters realise how close London is by train, more and more house hunters will look to Swindon as a viable alternative, and more and more landlords will realize what great rental yields you can get here.”
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