New research shows that house prices in Slough and Reading have so far benefited the most from Crossrail which is due to open in 2019.
According to the research from UK home lender, the Nationwide, house prices in Slough and Reading have increased by 39% and 33% respectively since April 2014, compared with the regional average of 22%. Maidenhead has also experienced a jump in average house prices – 51% since 2010 (the year when the coalition government committed to Crossrail).
The new railway line, named the Elizabeth Line, will stretch from Reading and Heathrow in the west to Shenfield and Abbey Wood in the east, meaning that 40 stations will connect towns in Berkshire and Essex to major hubs in London including the City and Canary Wharf as well as Heathrow airport.
This is likely to make Slough and Reading attractive propositions for London workers who prefer not to live in the capital as journey times will be around 15 minutes faster into Central London and 20 minutes faster to the Docklands.
Slough isn’t just a place to live and commute either, as recent research also indicated that the commuter town is becoming one of the UK’s top creative hubs for business and employment with more and more jobs in advertising, film, radio, TV and publishing popping up in the town.
The same can be said for Reading which has become the focal point for the UK’s own Silicon Valley with the likes of Amazon, Dell, Microsoft and Panasonic housing themselves here, contributing to the town’s economic success and growing population.
Maidenhead is a sought-after destination for commuters and with its current regeneration projects, including the £250 million The Landing scheme, is likely to become even more attractive to those seeking a retreat away from the hustle and bustle of city living. Read more about the Maidenhead regeneration in our blog, Local Focus: Maidenhead.
To find out more about the property markets in these areas, please get in touch with our estate agents in Slough, Reading and Maidenhead. Our highly knowledgeable and expert estate agency teams are on hand to answer all your property-related queries.
Correct at time of publication. The views and opinions expressed herein are those of the individual contributor and do not necessarily reflect those of the Chancellors Group of Estate Agents Ltd or its subsidiaries. References to legislation, best practice and other matters with legal implications such as fees, rules and processes are included for information and editorial purposes only and are not authoritative, nor should they be interpreted as advice. When in doubt you should only take advice from an industry professional or solicitor where appropriate. E&OE.
