New homes in Hounslow
New homes in Hounslow
Spotlight on Hounslow
Thanks to its enviable transport connections and ‘Golden Mile’ of large businesses, Hounslow has a reputation as a strong commercial base. With Crossrail arriving nearby soon and regeneration of two town centres, it’s also becoming known as a residential hotspot. If you’re looking for a well-connected property in West London, Hounslow could provide you with a healthy return.
Crossrail boosting prices yet Hounslow is still one of West London’s cheapest boroughs
In 2015, demand for property in Hounslow grew faster than any other London borough. This was primarily driven by the nearby Crossrail development in Ealing and Hillingdon, and the ripple-effect regeneration this will bring to the area. In 2016, the overall average price of property in Hounslow was £483,124, making it more expensive than nearby Hillingdon (£439,149), but far cheaper than neighbouring Ealing (£549,434), Richmond upon Thames (£783,173) and Hammersmith and Fulham (£962,085).
Development of Hounslow town centre
Hounslow is the borough’s largest town centre and the first of its two housing zones. With an influx of people moving in from surrounding areas where house prices are much higher, Hounslow’s proximity to Heathrow Airport and links to the M4 motorway make it an attractive area to invest. With the help of Greater London Authority funding, there are plans to build nearly 3,500 new homes here by 2025, including more than 900 on the site of the council’s current headquarters.
Hounslow High Street Quarter is the area’s landmark development. The mixed-use scheme will provide over 134,000 square feet of shops and restaurants and a new 10-screen multiplex cinema, all set around a new public square. At the heart of the scheme, 525 private and affordable homes will be created, including a 27-storey residential tower. Construction is set to begin soon, with residents expected to move in in late summer 2020.
Regeneration of Feltham town centre
In the borough’s second housing zone in Feltham, another 3,339 new homes are planned over the next 15 years. Wide-ranging plans to transform the area include improving access to parks, creating a new public square outside Feltham train station and extending the high street plaza so it can host regular markets and festivals. There are also plans for a new multi-storey car park at the Feltham West entertainment complex, which would create space for up to 600 apartments and 8,500 square metres of new leisure, food and drink outlets.
More jobs and new homes planned along the ‘Golden Mile’
Home to the highest concentration of media and broadcasting jobs in London, the Great West Corridor is a major business district on the route from Heathrow Airport to central London. Also known as ‘The Golden Mile’, in total some 200 companies employ around 25,000 people along this stretch of the A4 that runs down to Chiswick Park.
Hounslow Council has an ambitious target to create more than 28,700 jobs and build 1,580 new homes along the Golden Mile. Plans include a new segregated cycle lane along the A4, a boardwalk from Boston Manor Tube station across the M4 and Grand Union Canal, and the creation of a ‘Skyline’ train link between Brentford and the new Crossrail station at Southall.
Possibly London’s best-connected borough
Hounslow is well-connected by road, rail and air. The borough has excellent access to the M4 and M25 motorways. Underground stations Hounslow Central, Hounslow East and Hounslow West, are on the Piccadilly line, which conveniently started running night services in December 2016. A Tube journey to Heathrow takes just ten minutes and to the West End, it takes about half an hour. Trains from Hounslow reach London Waterloo in 40 minutes.
When Crossrail services begin in 2019, journey times across the Capital will get even shorter. Although the borough won’t have a Crossrail station, it will profit from the Hayes & Harlington and Heathrow stations in Hillingdon, and the Southall station in Ealing – all just a short hop from Hounslow.
New runway to bring jobs and more affordable properties
Heathrow Airport is the UK’s largest single-site employer. Along with its on-site businesses, it employs 76,500 people – over 50% of which live nearby. As the UK’s busiest airport, Hounslow owes much of its economic success to Heathrow. The recent decision to award a long-awaited third runway is expected to create 180,000 more jobs, bringing huge economic benefit to the borough.
The drawbacks of a third runway – the potential increase in noise pollution and greater congestion on roads and rail links – have resulted in falling demand within the local market. However, analysis by the Airports Commission shows that the number of people affected by noise would be reduced, with 200,000 fewer people forecasted to be affected than they are currently. And with expansion also bringing new green spaces and increased flood protection, investors looking for a bargain could find properties close to the airport an attractive proposition.
Current asking prices and rental yields
The current average value of properties in the London Borough of Hounslow is £547,646. It has seen a decrease of 1.59% in the last 12 months and an increase of 36.32% in the last five years. For a two-bedroom apartment, the average asking price is £509,332, and the average asking rent is £1,714pcm, which means the gross rental yield is currently 4%.
This content is correct as of March 2017