Redhill has gained in popularity amongst house hunters of late, particularly within the past year. The reasons are twofold. The first is the huge amount of regeneration going on in this town. The second is rail improvements, which will make commuting into the capital even easier.
Regeneration in Redhill
Right in the centre of town, the colourful Marketfield Way development costs £40m and consists of a large multi-screen cinema complex, retail outlets and apartments. The £50m for the local railway is being spent on a new platform, which will allow more trains from Brighton to stop at Redhill.
The borough of Reigate and Banstead in which Redhill sits, is large and reasonably affluent. The town has 20% more residents working in management and senior executive roles than the national average.
In addition, more people in Redhill own their home compared to other towns of a similar size in the UK. Property here jumped one percentage point in value over the past year, bringing the cost of the average advertised property to £394,000.
Shopping in the town is good, with branches of many recognisable high street stores such as Marks & Spencer, Boots and Topshop, as well as a fair number of independent boutiques.
Business outlook in Redhill
Redhill (it gets its name from a nearby red-coloured hill) has its fair share of big-name companies located in the area. This includes construction firm Balfour Beatty, AXA Insurance and utilities company Total Gas and Power. Sainsbury’s and Travelodge have both recently opened in the town.
Reigate is within easy commuting distance of Redhill and has the Canon HQ, as well as the UK base for American safety company Kimberly Clark.
Employment in Redhill
Redhill has 20% more individuals working in senior and intermediate managerial, administrative or professional roles than the national average. Finance and Business are the largest employment categories in Redhill. The public sector, particularly education and health are next, while engineering and construction are also responsible for many jobs in the area.
Last year, only 7.8 individuals in Redhill picked up unemployment benefit – that’s nearly 50% less than the national average.
Property in Redhill
Redhill is more affordable than most of London and perfect for commuting. The average property price in the town is £450,357, with the average rent sitting at £1259 pcm. Yields are around 6.01%.
You are more likely to find two and three-bedroom homes on the market in Redhill; with increases last year of 16% (to 242 homes) and 25% (to 223 homes) respectively.
Being close to the capital gives Redhill excellent travel links. Trains round hourly into London Victoria, for instance, taking just half an hour. The new platform being built will mean a direct link to Gatwick Airport (which is only six miles away). Metrobus currently links to the Airport. Heathrow Airport is only 20 miles down the road.
Drivers have easy access to the M25 and M23 while buses into London take just 1 hour 10 minutes via National Express.
Speak to Jonathan Daniels who specialises in investment property.
Call 0333 123 1330