Date Published 24 February 2023
Since the new Crossrail line has been introduced, there has been more of a demand for properties around the areas of the stops for the Elizabeth line. With the high demand for housing right now and all the other factors included, the years of delays of the Elizabeth line has meant that property investors and landlords are finally able to see the benefits of their purchases.
The Elizabeth Line stretches from Reading and Heathrow in the west, through 42km of new tunnels under London to Shenfield and Abbey Wood in the east. When fully operational it will increase London's rail capacity by 10%, making it the largest single expansion of the city's transport network in more than 70 years.
Reading is one of the most expensive home county towns to commute from. The annual cost of commuting could set you back more than £5,000 according to ticket prices from the TrainLine website.
Reading had an average asking price of £369,935, corresponding to a 62 per cent price inflation in ten years. One stop further, the number of buyers contacting estate agents for properties in the village of Twyford more than tripled.
Slough saw the steepest rise in house prices in the Reading branch of the Elizabeth line, with an average asking price of £387,647 in 2021. This was an 81 per cent increase from 2012. Rents in the town also shot up to an average of £1,424, a 44 per cent increase, the highest amongst all stations. Burnham was similar for renters, as they were asked to pay an average of £1,457, 43 per cent more than a decade ago.
The south east London suburb of Abbey Wood has seen the strongest price growth along the Elizabeth line. Average prices have accelerated 107 per cent in the area, from £175,550 back in 2012 to £362,870 today, giving early adopter buyers a paper profit of almost £190,000.
