Click here to see how the property market in Reading is doing

HOW IT RATES The county town of Berkshire, Reading is set where the Thames meets the Kennett. Henry I founded the abbey in 1121 and is buried there. Oscar Wilde wrote The Ballad of Reading Gaol during his time in the town's prison. Nowadays it is a university town with an impressive transport network, and is well known for its annual music festival.

ARCHITECTURAL GEMS The abbey ruins are worth a visit. Take a trip to the 18th-century Basildon Park mansion, which was featured in the 2005 film adaptation of Pride and Prejudice. There is also the Reading Museum and the newly restored Forbury Gardens. Stratfield Saye is only a short drive away, home of the Duke of Wellington. The remains of a Roman town can be seen in Silchester.

WHAT'S NEW The council set aside £9.2 million for housing schemes this year. Crest Nicholson announced last month a new development in the centre of Reading called Q2 comprising 60 one and two-bed apartments. Prices start from £169,950. 0870 755 1628.

QUALITY OF LIFE Not bad. Some of the best stretches of the Thames, the Chiltern Hills and the Hampshire Downs are within easy reach. Reading is one of nine cities and towns in the South East Diamonds for Investment and Growth, which plans to create more homes, reduce carbon emissions and boost local economies.

TRAVEL Reading is a transport hub. Heathrow is a 25-minute drive with a RailAir Link and direct coach service. The rail service has direct routes to most parts of the UK: trains to London take 20 minutes. There is an excellent local bus service, and the council is improving it further by introducing bio-ethanol buses at a cost of £2 million.

SMARTEST STREETS The town centre has a few new developments coming, but it is the leafy suburbs of Calcott, 20 minutes west of the centre, where prices start to increase. For the real desirable areas you need to head west toward Pangbourne or follow the Thames to Marlow and Henley-on-Thames.

BEST RESTAURANTS Expensive, sophisticated but unpretentious, Forbury's can be found on the ground floor of a striking glass office building and serves French food with a modern twist. Set in a former 18th-century toolhouse, the London Street Brasserie is perfect for a summer evening, with a terrace overlooking the River Kennet. If you like beer and meat, Sweeney & Todd is a must, with its fabulous selection of ales and pies.

TOP NIGHTLIFE Arts venues abound, and include the Hexagon Theatre and 21 South Street. For those in need of a laugh, try the new Jongleurs Comedy Club, where the Boardwalk pub used to be. The regenerated waterfront offers a range of haunts for a pint or two.

EDUCATION A two-university town. The University of Reading is known for its research and enterprise. In 2004, Reading College and School of Arts & Design merged with Thames Valley University and has become the Reading campus for the university. Founded in 1125, Reading School is a grammar school for boys aged 11 to 18 and is the tenth oldest school in the UK.

WORKING LIFE The town was once known for the three ‘B's: biscuits, beer and bulbs. These industries have now vanished and the IT crowd has taken over. Head offices for multinationals such as Microsoft, Oracle and ING Direct can now be found here.

UPSIDE In 2006 the Reading Fringe Festival was launched in the arts venues in the run-up to the music festival. In the same year, Reading gained promotion to the Premier League, the first time the club had reached the top flight. The town is also an excellent place for shopping.

DOWNSIDE There is congestion travelling in and out of town and some parts are unattractive but it is still developing. Reading missed out on city status in 2000 when Brighton & Hove was chosen instead.

Explore Property

• Buying & Selling

• New Homes

• Overseas

• Interiors

• Investment

• Gardens

• Cool In Your Code

• Specials

Times recommends

• Analysis: frustration for everyone - except investors
• Spanish property: why it's crunch time on the Costa del Sol
• Buy-to-let: professional investors cash in on the credit crunch