Not even three years in and already there's new hardware on the immediate horizon.
On the Xbox One side, there's the Xbox One S which is basically the same except it's thinner and will output video (but not games) in 4K if you have a suitable TV. Otherwise, it's the same old. It's out in August and will be £250-£250 depending on how big a hard drive you want.
There's also Project Scorpio, Microsoft's answer to the PS4 Neo, which will output games in 4K and support whatever VR they'll be using (rumoured to be Oculus) and sounds like it'll be a bit more powerful than the PS4 Neo. It's coming next year. The PS4 Neo looks like it'll be out at the end of this year but critically the standard PS4 will support VR, unlike the Xbone.
Personally, I don't give a toss about 4K or VR, but hopefully these new models will push the price of the current ones down to a level that I might consider. Like how I got my fat Xbox 360 just after the slim model came out. Or I might get a Nintendo NX instead, since if I'm going to blow that much money on a console I want one that'll actually offer something different to the PC side.