Crossrail house prices:Essex homes near Elizabeth line stations see values rocket by up to 54 per cent in three years

The average price of homes in Brentwood, Shenfield and Gidea Park have soared in the past three years thanks to the promise of fast train links to central London

Click to follow
H&P

Essex homes close to the soon-to-launch Crossrail service have seen impressive price growth of up to 54 per cent in just three years.

Thanks to the promise of an Elizabeth line station, the average price of a three-bedroom semi-detached family home in Brentwood is £500,000, compared to £325,000 in 2013. In the last year alone, prices have risen by 11 per cent, while other areas in the East of England only grew by 6.4 per cent, according to Rightmove's House Price Index.

Research by Beresfords estate agents shows that prices in the popular town of Shenfield have also rocketed, with one-bedroom apartments enjoying the most growth, of 37.5 per cent on average.

Flat buyers will be set back £275,000, whereas the national average house price is £216,674.

Prices have leapt in Gidea Park, near Romford, rising by 34 per cent. Four-bedroom detached town houses cost an average of £825,000, compared to £620,000 in 2013.

Despite the substantial price rises, Terry Holmes, director at Beresfords estates agents, still considers Essex a smart choice for buyers.

"There is huge demand for housing in Essex from commuters," he says. "It is still a very affordable option compared to other home country locations. The arrival of Crossrail will offer commuters faster connections to London Liverpool Street and, when the line is fully opened, offer quick and very accessible links to central London, Canary Wharf, Heathrow and further afield."

Crossrail officially opens its services from Shenfield to London Liverpool Street this May, with the full line following in December 2019.

Click through the gallery for homes with average asking prices on offer in Brentwood, Gidea Park and Shenfield


Follow us on Twitter @HomesProperty, Facebook and Instagram

Comments