The commuter-friendly, high-tech town of Reading, to the west of London, is poised to register dramatic increases in property values as Crossrail nears completion.
The 60-mile multi-billion-pound infrastructure project will link Reading with Paddington Station, the City and Docklands before heading into the Essex countryside. It will cut travel times between the Berkshire town and London’s financial district in half.
“A commuter who lives in Reading but works around Liverpool Street will now be able to get to work within an hour, in comfort,” said a local property expert. “It’s no wonder that the property market in Reading is booming.”
Prices have already jumped by more than 30 per cent in the past five years. Local agents now predict that the value of homes close to the Crossrail station will increase by a further 75 per cent once it opens, expected in 2020.
In comparison with central London prices, Reading offers excellent value for money, together with a thriving local community, spacious parks, abundant shopping and entertainment options and proximity to excellent road and air connections.
GRE Assets has a major residential development, City Tower, in Reading, just five minutes’ walk from the rail station.