Thousands of homes for Reading
Wed 29 April 2015, 4:18 pm
There are more than 2,700 houses currently being developed in Reading, according to research carried out by economic development company, Reading UK CIC.
The organisation concluded that one quarter of the properties under development are due to changes in planning legislation, which allows for the conversion of office buildings into housing without the need to apply for planning permission.
Developments such as Thomas Homes’ recently completed 46-unit scheme at 310 Kings Road are a direct result of this.
A planning application was submitted by CNM Estates and Carigmay Developments to convert King’s Point into a new 19-storey, 190-apartment block earlier this year.
Reading UK CIC said a £900 million investment in rail, which has improved Reading’s connectivity with London, has also encouraged investment, particularly around the station area.
Tim Harding of Reading estate agents Haslams, said: “There is no shortage of demand from owner-occupiers, tenants and investors to acquire new housing either in the town centre itself or in areas that are well connected to the town such as Kennet Island or Bewley Park. At present we see no signals that this demand is likely to be reduced.”
A recent report by property company JLL concluded that the impact of Crossrail will see a housing price growth in Reading of 42% over the next five years.