{"id":90714,"date":"2021-02-15T12:59:06","date_gmt":"2021-02-15T12:59:06","guid":{"rendered":"https:\/\/sevencapital.com\/?page_id=90714"},"modified":"2024-03-12T11:33:20","modified_gmt":"2024-03-12T11:33:20","slug":"bracknell-property-price-forecast","status":"publish","type":"page","link":"https:\/\/sevencapital.com\/bracknell-property-price-forecast\/","title":{"rendered":"Bracknell Property Price Forecast"},"content":{"rendered":"

After the highs and lows of 2023 and as we kick off the new year, we\u2019re looking ahead in our 2024 Bracknell property price predictions to see what the next 12 months could hold for this popular, up-and-coming Berkshire town.<\/span><\/p>\n

Driven, largely, by the quest for more property for your money outside the Capital alongside the increasing cost of living, property in the wider South East, including Bracknell, continues to provide an attractive alternative.<\/p>\n

With The Bank of England freezing inflation base rates at 5.25% for the third time in December after 14 consecutive rises, things are looking positive for the UK property market<\/a> with many economic experts believing rates will start to decrease over the next 12 month.<\/p>\n

This seems to have contributed to an increase in confidence amongst homebuyers, particularly in the South East.<\/a> In the final quarter of 2023, Zoopla reported a 19% upturn in demand for property in the region, higher than the 12% increase seen across the wider UK. Similarly, OnTheMarket data revealed that 62% of active buyers in the South East<\/a> were confident that they would purchase a property within the next three months.<\/p>\n

Zoopla\u2019s final House Price Index<\/a> of 2023 recorded above average levels of new sales – up 17% on the previous year. Research<\/a> from London estate agents, Benham and Reeves, indicated that Berkshire was one of the top four counties in England with a 9.2% increase in properties sold subject to contract between Q1 and Q4.<\/p>\n

This looks set to continue throughout the coming year with the demand for property in Bracknell increasing<\/a> as homebuyers are less constrained in their budgets and seek more value- and property \u2013 for their money.<\/p>\n

One of the key drivers behind the demand for property in Bracknell is its strategic location. Situated just 25 miles west of the Capital, the once sleepy town is now a vibrant and thriving commuter hotspot<\/a> with direct trains to London\u2019s Waterloo in under an hour. Proximity to London, excellent transport links, and the presence of major tech corporations in the area – aptly nicknames the UK\u2019s \u201cSilicon Valley\u201d – have contributed to the town’s growing appeal from working professionals and those looking for more value for money that London can offer.<\/p>\n

Current Bracknell Property Performance<\/h2>\n

As lenders are beginning to offer 5-year fixed-rate deals closer to 4% compared to last year\u2019s average of 6.11%, property experts are reporting some promising buyer and seller activity in the UK property market which is impacting property prices.<\/p>\n

Latest market data from Zoopla<\/a> revealed increases in buyer demand (12%), number of sales agreed (13%) as well as stock of property for sale (22%) which suggests a positive outlook for the year ahead.<\/p>\n

Similarly, Rightmove data<\/a> highlighted the number of potential buyers contacting estate agents about property for sale in the first week of 2024 was 5% higher than in the same period last year. Similarly, the number of properties coming to market is 15% higher than at the start of last year, following a record number of sellers launching on Rightmove on\u00a0Boxing Day.<\/p>\n

So, what does Bracknell\u2019s property market have to offer the expanding homebuyer market?<\/p>\n

Analysis of Land Registry\u2019s latest data<\/a> shows and impressive 11.27% growth in property prices since June 2021, outperforming England’s overall 6.11% growth during the same period. Additionally, despite a slight drop in property prices felt across the UK in November 2023, Bracknell\u2019s property prices were still an impressive 14% above when compared to the same month in 2019. This reinforces that, outside of the abnormal trajectory the property market experienced since the pandemic hit, property in Bracknell presents a compelling opportunity for homebuyers seeking not only value, but sustained financial growth.<\/p>\n

Zoopla data confirms this, revealing the\u00a0average sold price of property in Bracknell<\/a>\u00a0in the last 12 months is \u00a3424,302, up 8% from the \u00a3392,729 figure reported in our 2023 Bracknell property market analysis<\/a>, rising in conjunction with current market demand and an increase on pre-pandemic figures. The long-term performance over the last five years has been optimistic in the face of economic turbulence and market activity seems to be recovering which will stimulate property price growth further.<\/p>\n

It should also be noted that the Bracknell property market remains a favourable, affordable alternative to the surrounding areas. Despite impressive long-term growth, property prices in Bracknell are almost 43% less than the average sold price of London property<\/a> which topped \u00a3734,248 in the last 12 months. This has proved attractive to homebuyers returning to the property market having held back during a difficult economic climate in recent years.<\/p>\n

The Grand Exchange has recently been completed, with our first residents moving in. Find out what they have to say in our case study, here.<\/a><\/p>\n

Completely unique to the local market, The Grand Exchange is designed with the modern resident in mind, filled with exclusive amenities including a gym, co-working space and residents\u2019 lounge.<\/p>\n