The proposed Heathrow expansion - How will it impact the property market in the Reading and Slough area?

Posted on Monday, September 14, 2015

The third busiest airport in the world and the UK’s only hub, Heathrow Airport and how it plans to increase its capacity is of prime concern to businesses and residents in our areas of Reading, Langley and Wokingham.

It has always been a big pull to businesses planning their headquarters in the UK. Some of the largest companies in world have their offices nearby, such as Apple, Canon, GlaxoSmithKline and Toshiba, which is surely has appeal in attracting professional residents looking for the best jobs in a great area. Office markets in locations such as Reading, Maidenhead and Bracknell all benefit from this proximity too, being so close to such a major airport, and London itself.

18 of the world’s top 25 software companies have offices in the region; 15 of the UK’s top 25 pharmaceutical firms are based in the Thames Valley; and many multinationals have their UK and European headquarters in these markets.

So, what does this means to local people? A booming industry, benefiting from great connectivity and strong transport links, means jobs and wealth, which can only get better as the capacity of Heathrow increases.

As Ruth Bagley, chief executive of Slough Borough Council, said recently, ““Our proximity to the airport is one of the main reasons why we have the highest concentration of European and UK headquarters in the country and why our prospects for inward investment are so positive.”

Heathrow is the source of more 6,000 jobs for Slough residents on the airport and its support businesses, with an estimated further 12,000-plus Slough residents with jobs in local businesses as a direct result of the proximity to Heathrow.

With 30,000 jobs to be created by the expansion, it seems that this will only improve for residents in Reading, Langley and Wokingham, and this in turn will support house prices. It also believed that extra noise from aircraft will have little impact on the housing market away from the areas directly effected. Heathrow’s use of Continuous Descent Approaches has also improved noise levels. With a procedure that involves aircraft maintaining a steady angle of approach when landing at the airport, as opposed to approaches which involve prolonged periods of level flight, the aircraft keep flying higher for longer, thereby reducing arrival noise.

Although no proposals have been finalised yet, the expansion of Heathrow can only mean great things for the Berkshire area. It’s a fantastic time to invest in property, whether it’s for yourself or buy-to-let, or to sell your home or land for development. Contact us today to see how we can help you!