Property prices in the town have risen dramatically over recent years and are predicted to rocket by up to 40% over the next 5 years. Low interest rates and a lack of housing supply is supporting price growth, giving investors increased confidence in the market. A study by Lloyd’s Bank on the UK’s cheapest commuter towns revealed city workers buying homes in Swindon will save on average £400,000 compared to central London property prices. Swindon Borough Council reported in 2017 that 22,000 new homes need to be built by 2026 to keep up with demand and the economic growth of Swindon. Since 2008 the numbers of houses built in the Borough has fallen every year to the point that during 2012 / 2013 just 520 houses were completed in Swindon. This represents just 26% of the completion rate that was being achieved in 2007/2008.
In the past year house prices in Swindon were 4% on the year before and 22% up on 2015 when they averaged at £195,599. This year house prices in Swindon have averaged at £239,371, this was similar in terms of sold prices to nearby Old Town at ££202,643. This growth is expected to continue on an upward trajectory due to the electrification of the Great Western Mainline, pushing property prices up all along the route.
Most of the sales in Swindon over the past year were terraced properties which on average sold for £202,643. Semi-detached properties had an average sold price of £250,242 and detached properties averaged at £357,879 (Rightmove)
Pharmaceuticals, banking and professional services, automotive and advanced engineering and the digital economy contribute to a thriving business base of 7,500 companies. Swindon has a buoyant, productive, private sector dominated economy with hard working skilled residents. A current population of 216,000 is anticipated to grow to over a quarter of a million by 2026. Swindon has 112,000 jobs with recent strong growth in banking and professional services, the digital economy and construction sectors.
Guild House is part of the Electra and Guild House development, comprised of two separate buildings, based in Swindon with a ground and four upper floors to provide 67 apartments.Enquire
As well as the excellent retail facilities on offer, Swindon has been a commuter-centric town since the 19th century and has positioned itself as one of the best strategic locations in the country. The Lock continues to build-on Swindon’s reputation as a transport-centric area as it is close to a busy commuter hub, Swindon Railway Station, that offers tenants easy access to London Paddington and the South-West.Enquire