DEMAND to live in Reading is rising, according to a new report by Savills.
The estate agent has revealed a surge in demand from people looking to relocate and change their lifestyles over the past three months.
It said interest in properties in the “inner commuter zone”, including Reading and parts of Wokingham borough, has increased by 9.1% over the past year.
This is the highest rise since 2007.
Gordon Hood, head of residential lettings for Savills Reading, said the growth has been fuelled by the pandemic as people want more space.
“[This growth] has seen many more tenants entering the local market, as well as existing tenants looking to upgrade to a larger home,” he explained. “Meanwhile stock levels have decreased, and given the market was already undersupplied, this further reduction has intensified continued upward pressure on rents.”
Three- and four-bedroom homes saw the highest rise in demand, and Savills said supply has not been able to keep up.
Jessica Tomlinson, Savills research analyst, added: “Across the commuter belt, we’ve begun to see a change in priorities more recently, with people seeking to be closer to transport links and lifestyle amenities in town and city centres, in contrast to the flight to country properties in village and rural locations seen throughout last year.”
London saw a 1% rise in demand over the past three months, and a 2.6% fall in the last 12 months.
