Death of the Thames Valley/M4 corridor.

[dryrot]

On 10/01/2017 at 6:20 PM, Funn3r said:

I'm in Wokingham, agreed there's a lot of construction going on. Jobs in Bracknell are not however so I am not sure that the traditional buyers will be there waving their money (debt) when construction completes. 

Me too. Most of the sales are to Londoners escaping. Quite a few chinese as well. Everything seems to sell though. Wokingham is always on the top places to live/bring up kids in the UK. Shows you how sh*t the rest of the country is...

[spyguy]

11 hours ago, dryrot said:

Me too. Most of the sales are to Londoners escaping. Quite a few chinese as well. Everything seems to sell though. Wokingham is always on the top places to live/bring up kids in the UK. Shows you how sh*t the rest of the country is...

I think the stats that put places like Fleet and Wokingham top are  weighted wrong.

[Funn3r]

9 hours ago, spyguy said:

I think the stats that put places like Fleet and Wokingham top are  weighted wrong.

Wokingham main (Peach) street is dire! Years ago it was dire because every other shop was an EA, now a bit different they are all either charity/pound shops or daft creative reinventions such as the old "wipe your feet as you leave" Redan pub which now elevates itself as a cocktail bar. 

I suspect any people who are super-happy in Wokingham are the ones well out of town in the many top end detached houses discretely set back from the road. 

[spyguy]

37 minutes ago, Funn3r said:

Wokingham main (Peach) street is dire! Years ago it was dire because every other shop was an EA, now a bit different they are all either charity/pound shops or daft creative reinventions such as the old "wipe your feet as you leave" Redan pub which now elevates itself as a cocktail bar. 

I suspect any people who are super-happy in Wokingham are the ones well out of town in the many top end detached houses discretely set back from the road. 

I went out a couple of times in Wokingham. There used to be old a old Italian opposite the pub on the way to Bracknel, bit on from Spider networks (showing my age!). That was good. The rest was pretty bland.

The big houses still need to get to work. The Wloo line is too slow. The roads are too congested.

[Barnsey]

As posted elsewhere but thought it prudent to resurrect this thread given how things are turning:

LSE: The Local Economic Effects of Brexit

http://cep.lse.ac.uk/pubs/download/brexit10.pdf

Page 24, places Reading 3rd, Swindon 4th and Slough 5th (out of 62 listed) of most negatively affected primary urban areas in the U.K. by hard Brexit, with only Aberdeen and Worthing worse off. Pretty remarkable.

Even if it turns out to be a soft one or reversed, I'd be surprised if uncommitted Thames Valley investment decisions aren't being called off or postponed on a large scale. Plenty of reductions on RM in surrounding areas popping up.

Edited July 29, 2017 by Barnsey

[dougless]

Does anyone remember a while back when Aberdeen and Reading had the lowest unemployment levels in the UK.  They are both towns that rely on high wages and unlike some areas have insufficient 'old money' to keep them going in a recession.  I am rather looking forward to Reading getting a spanking.

[spyguy]

1 hour ago, dougless said:

Does anyone remember a while back when Aberdeen and Reading had the lowest unemployment levels in the UK.  They are both towns that rely on high wages and unlike some areas have insufficient 'old money' to keep them going in a recession.  I am rather looking forward to Reading getting a spanking.

Aberdeen was oil, thats all.

Reading is more obscure. Salaries are recorded where you work. Years ago,  I worked with some highly paid people in the M4 corridor. None lived within 30 miles of the place.

None now work there anymore, most moved to central london. A couple have emigrated.

I went to Reading earlier this year - its convenient for a beer meetup. Its a pretty rough arsed shithole, more so than it ever was. I have no wish ever to go into Bracknell again.

[spyguy]

Unemployement means nothing. Most of Reading will be tax credits and disability.

[dougless]

16 hours ago, spyguy said:

Unemployement means nothing. Most of Reading will be tax credits and disability.

Not quite how I see Reading.  It has a large number of workers linked to IT and Insurance.  Many are on above average salaries and I do understand that many will not live in Reading but a significant number live nearby.  Reading 'benefits' from its fast travel times to London and its own reasonably buoyant employment.  I don't think London will be as significant soon despite the crossrail tosh.  As far as Reading's own employment market is concerned, I suspect Brexit will take the heat out of that.  I think Reading is due for a BIG correction.  Prices are already softening in rentals and purchasing and Brexit has hardly started.

Edited July 30, 2017 by dougless

[spyguy]

2 minutes ago, dougless said:

Not quite how I see Reading.  It has a large number of workers linked to IT and Insurance.  Many are on above average salaries and I do understand that many will not live in Reading but a significant number live nearby.  Reading 'benefits' from its fast travel times to London and its own reasonably buoyant employment.  I don't think London will be as significant soon despite the crossrail tosh.  As far as Reading's own employment market is concerned, I suspect Brexit will take the heat out of that.  I think Reading is due for a BIG correction.  Prices are already softening in rentals and purchasing and Brexit has hardly started.

Thats the stock response but its wrong.

The mainline train is fast - to west West London. Thats not where the high paying jobs are though.

The Wloo train is a slow as walking.

No matter what train you take, youve got to the get to the station, which is a mjor PITA. You can bus it but theres not much i nthe way of bus lanes to get you there.

The John Msdsdsi scheme to put offices around Station Hill has been a massive flop. There seems to be little of no demand for central offices. The palces out around Winnersh all seem to be on their downers - MS, HP aswas and Oracle.

[Barnsey]

56 minutes ago, dougless said:

I think Reading is due for a BIG correction.  Prices are already softening in rentals and purchasing and Brexit has hardly started.

789 1 & 2 bed flats available to rent in Reading on RM, primed for a mass sell off when the BTL tax relief reductions kick in. As you rightly point out, combine that with Brexit redundancies/relocations and you've got a huge poo-storm brewing. Anyone who believes that drastically falling prices for flats will have no effect whatsoever on 3 bed semi's nearby is kidding themselves.

No doubt Wokingham, Twyford, Woodley/Earley, Henley and Pangbourne will take the hit too.

Edited July 30, 2017 by Barnsey

[Funn3r]

2 hours ago, Barnsey said:

No doubt Wokingham, Twyford, Woodley/Earley, Henley and Pangbourne will take the hit too.

Substantial amount of housing development going on in and around Wokingham. Yesterday I drove past the "luxury" flats being built next door to the Ship Inn on the old Spider Systems site. Have not bothered looking but friend tells me they will be going for 500K+. Who the hell is ever going to buy them? 

[nightowl]

3 hours ago, spyguy said:

Thats the stock response but its wrong.

The mainline train is fast - to west West London. Thats not where the high paying jobs are though.

The Wloo train is a slow as walking.

No matter what train you take, youve got to the get to the station, which is a mjor PITA. You can bus it but theres not much i nthe way of bus lanes to get you there.

The John Msdsdsi scheme to put offices around Station Hill has been a massive flop. There seems to be little of no demand for central offices. The palces out around Winnersh all seem to be on their downers - MS, HP aswas and Oracle.

I have also noticed new office blocks being built or renovated in the centre at the same time others have been converted to residential flats which is within walking distance to the station. I suspect the logic is crossrail will allow better access to London beyond Paddington - ie the east of London city centre where those fabled high paying jobs are being created (ummm).  Still like every other town, there's too many newbuild flats to flood the market if/when the market falls.

[adarmo]

On 29/09/2016 at 7:14 AM, spyguy said:

There was liimited. Reading had a life insurer - as did most large towns. It does not anymore.

To be honest, Reading reminds of Bradford in the late 80s, just before it tipped into being the hell hole it is today.

 

Prudential are in the centre. Then there's Oracle, Microsoft, PepsiCo. Imho Reading is overpriced but under rated. I moved to Caversham about three year's ago and actually liked it much more than i thought i would. There's tonnes of accounting jobs, IT is big and plenty of start-ups about since they don't like the overheads of London. Heathrow is 30 minutes away which helps a lot. 

[adarmo]

On 01/10/2016 at 8:53 PM, spyguy said:

Its ~30 min Rdg to Pton.

Problem is you have to get to Rdg station.

Rushhour Wokham to Rdg station is 50 minutes.

 Or an 11 minute train journey calling at

Winnersh

Winnersh triangle

Earley

And..... Reading

True you might have to wait 5 minutes for the fast train (23 minutes to Paddington is my record). Paddington is no great shakes though because you then have to use the hell like cattle trolleys Londoners call 'the tube'

Just get the slow train to Waterloo from Wokingham and be done

[Si1]

14 minutes ago, adarmo said:

 Or an 11 minute train journey calling at

Winnersh

Winnersh triangle

Earley

And..... Reading

True you might have to wait 5 minutes for the fast train (23 minutes to Paddington is my record). Paddington is no great shakes though because you then have to use the hell like cattle trolleys Londoners call 'the tube'

Just get the slow train to Waterloo from Wokingham and be done

If you've got a comfy seat, commuting can be quite zen-like.

[adarmo]

59 minutes ago, Si1 said:

If you've got a comfy seat, commuting can be quite zen-like.

Agreed- those Bose noise cancelling headphones make a big difference too.

[hi5lo5]

5 hours ago, Barnsey said:

789 1 & 2 bed flats available to rent in Reading on RM, primed for a mass sell off when the BTL tax relief reductions kick in. As you rightly point out, combine that with Brexit redundancies/relocations and you've got a huge poo-storm brewing. Anyone who believes that drastically falling prices for flats will have no effect whatsoever on 3 bed semi's nearby is kidding themselves.

No doubt Wokingham, Twyford, Woodley/Earley, Henley and Pangbourne will take the hit too.

No surprise there. I live in block of flats in town centre, a BTL hot spot of the town. At least two EU families I know moved back after Brexit. 8 years back there were only hand full of foreign families lived in this area, now more than 50% rented by Indian IT workers. I really doubt these flats will ever be sold as there is a constant flow of non EU immigration will keep the BTLers wheel spinning. Another scary stat, only 25% pupil of the local primary school have English as their primary language.

[spyguy]

2 hours ago, Si1 said:

If you've got a comfy seat, commuting can be quite zen-like.

I know someone who commutes Pton -> Reading. The othe way is not so relaxed.

There's nothing like a 30-40 min train commute to zonk you out and refresh you for a night at home.

[adarmo]

8 hours ago, dougless said:

Not quite how I see Reading.  It has a large number of workers linked to IT and Insurance.  Many are on above average salaries and I do understand that many will not live in Reading but a significant number live nearby.  Reading 'benefits' from its fast travel times to London and its own reasonably buoyant employment.  I don't think London will be as significant soon despite the crossrail tosh.  As far as Reading's own employment market is concerned, I suspect Brexit will take the heat out of that.  I think Reading is due for a BIG correction.  Prices are already softening in rentals and purchasing and Brexit has hardly started.

I would confirm that I'm seeing rentals falling. They've put our place up for a tenner more than we're currently paying a month but there's newer, larger and nicer apartments on the same road for less. Our rent went up in March i think and at that time we felt we were getting value, four months later and i feel like we'd be asking for a reduction if we were staying. 

[Shamus]

For you spyguy the last paragraph made me laugh!

BRISTOL is so overrun by ‘relocating’ London twats that it might as well just be in London, it has been confirmed.

Thousands are selling their houses in the capital and moving to Bristol, despite the fact that previous influxes of Londoners have already ruined it by opening overpriced vegan milkshake bars.

 

Former London resident Nathan Muir said: “Bristol is really similar to Hackney, but how Hackney used to be in the old days, before people like me moved there and made it an incredibly annoying place to be.

“You can pretend Bristol is a bit scary and edgy because there’s loads of graffiti everywhere, whilst being reassured that it’s the middle class kind that is making a gently humorous point about social injustices.

“I did think I’d get an extra bedroom for my money. Instead I’ve got a hippy on ketamine living in my garden shed, but at least it’s a slice of authentic Bristol life.”

A government spokesman said: “Bristol is so much like London that we’re just going to pretend it’s attached to Peckham and start calling it Brondon.

“Eventually the whole M4 corridor will be full of London bastards, except for Reading and Swindon which will be paved over for a massive park and ride scheme. Some places just can’t be gentrified.”

Source: http://www.thedailymash.co.uk/news/society/bristol-to-be-reclassified-as-london-suburb-20170704131011

[Shamus]

I was in Reading at the weekend.  Saw the leaning crane against the old Primark building - reported on the South Today evening news. 

Certainly lot's of characters about - some quite friendly - actually reminds me of Bristol in the mid 90's - there may be some hope yet - well into the next cycle !

[dryrot]

For the HPC NIMBY (and NODAM) haters, Wokingham/Bracknell might appease. 13k+ new houses in Wokingham and more over the A329(M) near Bracknell. They all sell. Pressure on land is intense, I pity the original residents in some ways: you create a nice town and it attracts people. (But if i had a field and some developer offered my £5m for it, I'd grab it like a shot!) Wokingham is very busy, and being renewed: the Bracknell redevelopment is nearly open and they've made a good job of it IMO. The Reading- Waterloo trainline is slow, over an hour from Bracknell, but then how many commute every day? When I worked it was 1 or 2 days in London, and then meetings wouldnt start till 11. makes travel a lot easier. BTW there will be 4 trains an hour from next year. Which is not to say all is rosy, but compared to other parts of the UK - or London outskirts - it could be worse.

[TheCountOfNowhere]

56 minutes ago, dryrot said:

For the HPC NIMBY (and NODAM) haters, Wokingham/Bracknell might appease. 13k+ new houses in Wokingham and more over the A329(M) near Bracknell. They all sell. Pressure on land is intense, I pity the original residents in some ways: you create a nice town and it attracts people. (But if i had a field and some developer offered my £5m for it, I'd grab it like a shot!) Wokingham is very busy, and being renewed: the Bracknell redevelopment is nearly open and they've made a good job of it IMO. The Reading- Waterloo trainline is slow, over an hour from Bracknell, but then how many commute every day? When I worked it was 1 or 2 days in London, and then meetings wouldnt start till 11. makes travel a lot easier. BTW there will be 4 trains an hour from next year. Which is not to say all is rosy, but compared to other parts of the UK - or London outskirts - it could be worse.

Thanks George.