Pent-up demand and “Mini-Boom” evident as first-time-buyers and investors show strong interest in Slough
CLICK, which is developing a landmark development in central Slough, has reported strong market interest in-light of the recently reported “Mini-Boom” in the housing market. Daily enquiries now stand at double the level experienced before the lockdown.
The homes located on Herschel Street, will become known as Aspire and have already attracted a strong level of interest from buyers. With necessary social distancing risk assessments completed prior to work commencing, the impact of the lockdown has been minimal.
Head of Sales & Marketing at CLICK, Anthony Moubarak, comments: “Aspire has been a much-anticipated development in the heart of Slough and this has been reflected in the amount of interest and enquiries we have received. Indeed, shortly after we announced our anticipated start date earlier this year, we had already secured reservations for 50% of the initial off-plan phase, from both investors and first-time buyers.
“Whilst the onset of the Covid pandemic could have impacted negatively on our progress, we were able to continue more or less as planned and interest in the apartments has remained strong at all times.”
Aspire will comprise of 238 high-end studio, one, two- and three-bedroom apartments and is located just a five-minute walk from Slough Railway Station. The popularity of Slough as an investment location has increased significantly in recent years thanks to ongoing town centre regeneration and investment (£3.5Bn total investment) under the Slough Urban Renewal programme; the impact that the Crossrail trainline will have on journeys into the Capital; and the town’s continued success as a commercial powerhouse attracting both domestic and international investment.
These attraction factors have, however, been further bolstered in recent months as Anthony explains:
“Slough has enjoyed 20% property price growth over the last five years – a figure significantly higher than London’s 12% over the same period – its appeal is, therefore, clear and we’ve enjoyed strong levels of interest from both first-time-buyers and investors alike.
“It was, however, the Chancellor’s Summer Statement on July 8 which proved to be the real tipping point for a renewed confidence returning to the market. Confirmation that there’d be a Stamp Duty holiday on properties up to £500k until March 31 next year signalled the biggest upturn in interest and we’re now fielding enquiries at double the rate we were when the commencement of work was confirmed earlier this year.”
Recent media reports have focused a mini boom in the housing market fuelled by both the stamp duty holiday and also people re-evaluating their home and lifestyle needs. The enduring appeal of investing in bricks and mortar is, however, another significant driver as Anthony concludes:
“Amongst interest from investors, we’ve witnessed many are withdrawing their capital from the financial markets and choosing to instead park it in property such as Aspire where future growth is inevitable.“Given the strength of interest we’ve enjoyed so far, we’re anticipating the remainder of 2020 to be similarly busy and would urge any interested purchasers to act quickly to secure the home of their dreams and benefit from the forecasted capital growth in property values.”
The 8th storey sky garden at Aspire will enjoy uninterrupted and protected views of Windsor Castle and a show home will launch in early 2021. Prices start at £199,999 and Help to Buy is available for first time buyers.
Click is offering exclusive discounts and other attractive incentives including furniture packs for NHS personnel and other key workers.
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