Wed, 07 Sep 2022 | Reading market update


In July, we reported that the Reading market was unimpacted by the summer holiday lull. In August, it was the same story: despite heatwaves, school holidays, and the world renowned Reading Festival taking place last month, the Reading property market showed no signs of stopping. In fact, sales even increased in what is traditionally the quietest month of the property market!

Read on to find out more about what happened on the Reading property market last month.

Which properties were in the highest demand?

Four bedroom properties flew off the shelves in August, with a mere 14 four bedroom homes being listed and 23 being sold in the same month. With such a stark contrast between supply and demand, competition is high and prices are soaring. Could your property help satisfy this huge level of demand?

ust as in July, two bedroom properties also proved to be very popular last month. One in three of the two bedroom properties listed in August had already sold by the end of the month, showing just how quickly the market is moving for this property type. Could this be first time buyers looking to take advantage of Reading’s fantastic transport links, career opportunities and exciting nightlife? Or are investors capitalising on the town’s popularity for renters since the arrival of the Elizabeth Line? Either way, if you are looking for a two bedroom property in the area, you’ll need to act quickly to beat the competition!

More three bedroom properties came to the market in August compared with July, giving slightly more choice to buyers of this particular property type. However, this did little to slow down the market for three bedroom homes: one three bedroom property we listed on Basingstoke Road received eight offers and sold for over 104% of asking price, and another on Swallows Croft received six offers and sold for 101% of asking price! With this in mind, if you have a three bedroom property to sell, you know who to turn to…

The high end of the market

Last month, the most expensive property to sell in the Reading area was The Pippins in Swallowfield – a stunning five bedroom detached property in a peaceful village location. Priced at £1,100,000, this property received five offers and was sold by Prospect in under a month!

Investment opportunities

In contrast, the least expensive property to sell last month was a £130,000 one bedroom apartment on Waylen Street. Located in the town centre and just a short distance from Reading station, this property would have made an ideal investment for any landlord wanting to capitalise on the large number of commuters and young professionals looking to rent in the area.

There are currently over 120 properties under £200,000 that would make a fantastic addition to any landlord’s portfolio. These range from project houses that require full renovation and are to be sold at online auction, to stunning one bedroom apartments that would be ready for tenants to move in immediately. Contact your local experts at Prospect Reading to find out more about excellent investment opportunities in the Reading area.

Ready to sell your property in Reading? We’ve listed and sold more properties in the area than any other agent this year. Book a valuation with us today to find out how much we could achieve for your property.

Don’t need help with a property sale? Be sure to register with us to be the first to find out about properties you’ll love in the Reading area.

And as always, you can discuss the property market further with one of our experts on 0118 997 6008.