House prices more than double near Elizabeth Line stations – buyer demand spots unveiled

House prices: Expert discusses 'interesting' pricing differences

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Rightmove, the UK’s largest property portal, has revealed that asking prices have more than doubled over the past decade around certain Elizabeth Line stations. A new study of data from Rightmove showed how local market activity in areas surrounding stations on the newly launched Elizabeth line have changed over the last 10 years. Some areas near stations on the Elizabeth Line that were previously not as connected to commuter hubs have seen prices surge and more interest from home buyers and renters.

Maryland Station in Newham, located in east London, has seen the biggest jump in asking prices with prices more than doubling compared to 10 years ago.

Prices have jumped from an average of £233,480 to an eye-watering £486,235, an increase of 108 percent.

Comparatively, house prices in London have increased on average by just 55 percent over the past 10 years.

Twyford, located at the end of the western section of the line close to Reading, has seen the largest jump in the number of buyers contacting estate agents.

Numbers have more than tripled compared to 10 years ago with prices increasing by 245 percent.

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Abbey Wood station, at the end of the southeast section of the line is facing the most competition from buyers.

Competition, measured by the number of people enquiring about each available property in an area, has soared more than nine times (869 percent).

Total buyer demand has surged the most in western areas while prices and competition have risen most in eastern locations.

Rising rents in London have seen the average asking rents in the capital reach a new record of £2,195 per calendar month.

The surge in asking rates is seeing tenants look at new areas where they can commute into the capital.

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Southall has seen the biggest increase in the number of tenants contacting letting agents compared to 10 years ago.

Enquiries have more than quadrupled (+372 percent) in the past 10 years.

Asking rents near Southall station are lower than nearby Hanwell or Ealing.

Custom House, one of the new stations built for the Elizabeth Line and that has lower travel times into Central London, has seen competition increase by a staggering 33 times (+3270 percent) compared to 10 years ago.

Tim Bannister, Rightmove’s director of property science, said working from home and more affordable asking prices and rents further out of London will be more “attractive” to new buyers and tenants.

He said: “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.

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“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.

“Not only this, but new working from home patterns since the pandemic started two years ago will have many people weighing up whether they are prepared to commute from further away if they need to do so less often.”

Simon English of Simon English Property Search said: “Crossrail’s impact on Reading’s housing market is undeniable.

“Shortly after the initial plans had been announced over 10 years ago, we witnessed a steady increase in house hunters wanting to find a home in Berkshire before prices go up further.

“The wave of buyers was then closely followed by investors who were seeking a property near the Elizabeth Line in order to benefit from the expected increase in property values.

“Rightmove’s data shows that this strategy did pay off for a lot of vendors.”

Nik Stylianou, Head of Residential Sales at Chestertons’ Canary Wharf office, said: “The Elizabeth Line will be a fantastic addition to London’s transport system.

“In Canary Wharf, residents have always had the privilege of extensive travel connections such as the Jubilee Line and the DLR.

“Crossrail has therefore not really led to a notable uplift in prices of existing properties.

“Canary Wharf’s new developments, however, are entering the market at a much higher price point whereby the Crossrail project very much played a contributing factor.”

Buyer demand hotspots:


West Drayton




Asking price hotspots and their asking prices:

Maryland – £486,235

Abbey Wood – £356,801

Stratford – £480,271

Manor Park – £456,276

Chadwell Heath – £385,828

Buyer competition hotspots:

Abbey Wood

Gidea Park

Harold Wood

Chadwell Heath


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