This week I have had a few people question the growth figures I quoted in my last blog, they couldn’t believe that Bracknell has had twice the growth of Wokingham since 2007. I must admit that these figures do fly in the face of local perception of the two towns.
I am quite happy for people to challenge any figures to help people understand the local market much better. The figures come from the Land Registry so we should be confident that they are correct. So if we assume the figures are correct we need to look at what local factors have contributed to this data.
Historically we know that Wokingham has been slightly better for growth than Bracknell as it is perceived as a more desirable place to live. However in the last few years the main thing that could cause such a distortion is the amount of new developments that have happened. Jennets Park, Kelvin Gate and The Parks are all quite substantial developments and as we all know new build properties sell for a premium price because of their desirability. With such a large number of new homes being sold in a relatively short space of time it was inevitable they would put upward pressure on the average selling price and thus giving a flattering growth figure.
It just goes to show that there is always an interesting story behind the figures. The statistics can be dry and boring but the reasons for them can be varied and transitional.
