Basingstoke: The Most Desirable Commuter Town?
A major destination within the South East and one of the highest performing economies in the country – Basingstoke was rated the 3rd fastest growing town in 2018, with a population of 172,000 and counting. We examine how Basingstoke property investment has quickly emerged as a prime market and the impact it’s had on the sector as a whole.
Basingstoke Property Growth
Basingstoke has seen impressive price growth of 219% over the last 20 years, driven by its exceptional employment opportunities and positioning within the London Commuter Belt. These rising prices are expected to continue as the South-East takes its place as the fastest-growing region in the UK by 2022. With cumulative growth of 12% expected over the next four years, Basingstoke will sit at the heart of a market filled with potential.
A key destination within the London Commuter Belt, Basingstoke offers direct access to London, Reading and Southampton in just 45 minutes. This makes it an attractive proposition for London professionals that want affordability without compromising on accessibility.
With a GVA of £5.6 billion – Basingstoke is the number one digital economy outside of London and was rated as the 7th most affluent town in the UK in 2018. Over 7,000 businesses contribute to this thriving local economy and Basingstoke maintains an unemployment rate of 2.4%, significantly lower than the UK average of 4.2%.
Named amongst the UK’s top locations for investment in growing tech companies (deals worth £425 million between 2015 and 2018 rank it 4th behind London, Cambridge and Abingdon), Basingstoke is home to global brands including BNP Paribas, Mars, Fujitsu and the AA. The town’s commercial sector is diverse, reaching new heights within the digital sector and attracting a talented workforce from across the region.
Basingstoke Quality of Life
Named Thames Valley Town of the Year in 2017 and holding a resident satisfaction rate of 96%, Basingstoke is renowned for the quality of life it can provide.
Anchored by the Festival Shopping Centre, Basingstoke has an exciting retail and leisure sector with premium shops, restaurants and bars. From the world-class concert hall to state-of-the-art sports facilities and seasonal festivals, the town is thriving in cultural amenities.
This level of investment has meant Basingstoke has truly become a place to live, work and play – a destination where young professionals or families can leave an expensive London market and discover a high-standard of living without the price tag.
This is why Churchill Place – a ready-made investment at the centre of Basingstoke – is such an appealing proposition for investors. With pre-tenanted and fully-furnished apartments, Churchill Place is ready to start delivering immediate rental yields. The development itself is in a prime area of Basingstoke and epitomises luxury, with contemporary designs and spacious, open-plan apartments.