The Crossrail ripple effect – the rise of Reading
7th August 2017
A shift in the market could send more families viewing homes around Reading and cause house prices to rise as the new London line opens in 2019. With the combination having the best of both: the green belt of Berkshire and the transport links of Crossrail, Reading is becoming the next commuter hotspot.
Crossrail, officially named the Elizabeth Line, will dissect London from Reading in the west through to Shenfield in Essex, providing commuters with a direct line to the City of London and Canary Wharf.
It is easy to see why the introduction of Crossrail is pulling in new home buyers: the extension to the Jubilee line and the Docklands Light Railway completed in 1999 saw house prices in the surrounding areas of East and South East London rise by 40%. A recent survey carried out by Nationwide of London uncovered that a proximity to a tube station in London adds £42,000 to the price of your home*. Transport links have never been more important to the housing market.
Reading, the western terminus of the new Elizabeth Line has enjoyed a 49 per cent price growth since Crossrail began construction in 2009. The average price of a home is now £302,525 and is expected to see a hike in sales prices of another 10 per cent as the new line draws nearer to its completion in Dec 2019**.
Mandy Soames, Sales & Marketing Director of Antler Homes comments - ‘The introduction of Crossrail makes it a very exciting time to look at property in the Reading Area. We have a number of buyers who have made the move to our new development in Mulberry Place in Woodley because of this new rail link. It is the perfect place for those who have grown tired of London living and are maybe looking to settle down while still being in commuter distance of the city.’
Antler Home’s latest offering of 3 and 4 bedroom homes in Woodley is nestled in the heart of Berkshire, set alongside the Old River in Woodley and will be a haven for commuters being only four miles from Reading. Offering luxurious yet practical living for both families and professionals alike with help to buy offered on a selection of 3 bedroom homes.
Prices start from £464,950 with stamp duty now being paid on selected plots with some properties being ready for occupation in September 2017.
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