Why Invest in Uxbridge?

Vijay Kumar Sharma / January 19, 2019

Tags: BlogUxbridge

The average house price in Uxbridge was around £428,904 in January 2019.

At the same time, the website Home.co.uk listed 169 properties for sale in the town. According to the same statistics, the average property in the town sits on the market for 186 days before contracts are exchanged.

At the last census, Uxbridge had a resident population of just over 26,000 individuals, according to the government’s official labour market statistics. Of those, 8,772 were couples living together or married while 13,213 were living on their own.

Of the total number of properties to buy in Uxbridge, there were more flats than other property types (92 available with an average sale price of £276,682). The next highest category was semi-detached homes (42 properties with a £511,308 average asking price), followed by detached homes (22 properties) and terraced (13 homes).

At 63 properties available, there were more two-bedroom properties on the market in January 2019 than any other type. There were 41 houses with three bedrooms and 34 flats in the one-bedroom category. Around 21 properties had four bedrooms and just six offered five bedrooms.

Private rental market in Uxbridge

In January 2019, there were 132 properties for private rental in Uxbridge. The average rental price was £1,458 pcm and properties tend to typically stay on the market for around 209 days before being rented out. Of those 132 properties, the majority (67 properties) were flats, 54 were houses and there were nine rooms for private rental.

Most rentals in the town had two bedrooms (36 properties) with the next highest category one-bedroom dwellings (25 properties). There were 20 four-bedroom properties to rent, 17 properties with three bedrooms and just seven houses offering five bedrooms or more.

Recent investment in Uxbridge

Last year one Israeli property investor was quick to see the buy to let potential when he paid £43 million for ownership of a 148,000 ft² office campus in the town. He now plans to turn the former three Legal & General offices into 237 flats (this is possible under favourable permitted development rights). Two of the buildings are currently rented to Xerox whose lease expires next year.

Former London Mayor, Boris Johnson, opened the new European headquarters of Life Sciences company TraceLink in Uxbridge at the end of 2018. It was part of the firm’s £55 million global investment.

Uxbridge is also benefitting from the Crossrail effect i.e. property in the area rose after it was announced the new high-speed rail link would hugely benefit residents commuting into Central London from Uxbridge (it’s expected to half journey times into the capital).

Best Uxbridge areas for specific property strategies

Buy to let landlords would do well to focus on upcoming properties near the town’s Southall Station. The station itself is being redeveloped to suit the Crossrail link, so rentals here would prove perfect for young professionals working in London and looking for cheaper living accommodation in its outskirts. Meanwhile, there is a planned redevelopment of St Andrew’s Park, which is expected to deliver 1,032 homes when complete.

Looking to invest in Uxbridge...

Speak to Vijay Kumar Sharma who specialises in investment property.

Call 0333 123 1330

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Tags: BlogUxbridge

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