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he elizabeth line celebrated its first anniversary this week, rolling out its full schedule with direct services from Essex to Heathrow for the first time. Since its commercial opening, the £20 billion route has transformed travel for hundreds of thousands of people who live and work in the capital.
With the start of work on the project in 2009, the ‘Crossrail Effect’ (and the resulting booms in property micro-pricing near the new Elizabeth line stations) really accelerated as it became increasingly apparent that the service would come to an end.
However, despite the vast 10-Year Price Growth Recorded at Select Elizabeth Line LocationsAnd with average sales prices in the capital now £696,477 according to Rightmove, there are still pockets of value to be found.
Thirty-five of Crossrail’s 42 stations are in districts where house prices They are below the London average.
Reading The station is the cheapest place to head, with average asking prices of £299.1113 last month, according to Rightmove.
Although it takes almost an hour to reach Paddington from Reading on the Elizabeth Line, a journey that can be made faster by national rail, the frequency of the service remains a great advantage for residents of the Berkshire town, as is the route without changes. to the City and Abbey Wood.
Five cheapest areas near Elizabeth Line stations
|
Season |
Average sales price of a home in the immediate area in April 2023 |
|
Reading |
£299,113 |
|
Move |
£347,499 |
|
wood abbey |
£372,621 |
|
heather chadwell |
£387,943 |
|
Heathrow Terminal 4 |
£397,027 |
Source: Rightmove
Harry Buck, lead negotiator for Parkers estate agents in Reading, said many properties come up for sale regularly in the city centre.
“We have just put a one-bedroom flat up for sale for £190,000 which is just a three-minute walk from the station,” Buck said.
While many shoppers come from Reading, or Oxfordshire to the west, others flock from the capital’s suburbs, and Elizabeth Line services are generally “busy” with commuters, Buck added.
Anyone looking for a place to live must compete with investors seeking an opportunity to capitalize on the high rents in the area, he warned: “There is massive demand.”
travel unchanged
Slough Station is the next most affordable home search stop in line, according to new data, with typical sales prices having fallen nearly 10 per cent in the past year to £347,499.
With unchanged 38-minute journeys to Tottenham Court Road, Elizabeth Line users living in this area can get home from Soho within an hour without hassle.
But it’s not just West London where opportunities remain. Abbey Wood and Chadwell Heath, on both sides of the river to the east of the capital, remain the third and fourth cheapest places to buy on Crossrail, according to Rightmove.
Houses close to Heathrow Terminal 4, which abuts the A30 and communities in north-west Feltham, are also often worth less than £400,000.
Central London properties are unsurprisingly the most expensive, with Bond Street leading the way with an average local asking price of £2.3m.
Houses near Liverpool Street, Farringdon, Paddington, Tottenham Court Road, West Ealing and Ealing Broadway are also often above the city average of £696,477.
Many areas in the line have objected to the flat London property market. While prices across the capital have risen just one percent in the past 12 months, those near Liverpool Street have soared 12 percent, according to Rightmove.
Ealing Broadway has seen a nine per cent increase, as have Hayes and Harlington, while Canary Wharf is up eight per cent.
|
Season |
Increase in sales prices of local properties in the year to April 2023 |
|
liverpool street |
12 percent |
|
ealing broadway |
9 percent |
|
Hayes and Harlington |
9 percent |
|
canary wharf |
8 percent |
|
Tottenham Court Road |
7 percent |
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