The newly unveiled Elizabeth Line has left commuters wrestling over rising prices in London’s suburbs, with the cost of a home in local areas more than doubling over the past 10-years.
The Crossrail, one of Europe’s largest infrastructure schemes and four years overdue, will open to the public on Tuesday.
Despite he delays, the number of buyers looking to move nearby stations has surged, data from property platform Rightmove has revealed today, with competition among buyers in Abbey Wood and Twyford surging.
For renters, asking prices have risen as much as 44 per cent, such as in Slough.
New working patterns, a hangover from pandemic restrictions, have also prompted those looking to move to consider further out in the commuter belt.
“Our unique view of the whole housing market over the last ten years really shows how many areas near stations that are now either better connected or have seen their journey times into central London significantly slashed, have received a lot of new attention from buyers and renters,” explained Rightmove director of property science, Tim Bannister.
“As the Elizabeth Line opens, it does so with a backdrop of record rents in London, a rising cost of living and a shortage of available homes. Areas further out from central London which have lower asking prices or rents, but are now more easily commutable will be attractive to new buyers and tenants in search of somewhere affordable to live near the capital.”