NEW FIGURES from a leading flatshare website show that Reading’s connection to London has seen rent increases across the town since the instatement of the Elizabeth Line.
Two years on from the launch of the transport link, statistics released by SpareRoom have shown that average room rent has risen by just under 40% since 2021.
This brings the average to £785 a month, with demand also rising, as around 5.4 people searching for every room.
This is part of a general rise in the area which is seeing Reading and neighbouring stops on the line feel ‘London-level pressure’, including Langley (with a rise of 42.5%), Slough, and Burnham (both 42.3%).
While those living along the Elizabeth line have benefited from reduced travel times since its public opening in May 2023, renters in its outer zones in Essex and Berkshire are now paying a premium for the convenience.
No areas along the line have below-average rents for the South East of the England – currently £745 per month – although Gidea Park comes closest at just £2 more per month.
Matt Hutchinson, director at SpareRoom, said: “Improved transport links almost always push rents up and that’s exactly what we’re seeing at play, especially in areas towards the terminuses of the Elizabeth line.
“Rent increases in many areas along the lines towards Reading and Essex have outpaced the South East average, but savvy renters can still find value if they do their research.
“For homeowners with spare rooms, these increasingly popular locations also present an opportunity to increase income by taking in a lodger, whilst also offering affordable housing for those who need it.”
A full breakdown of the figures is available via: spareroom.co.uk/statistics/elizabeth-line
More details about SpareRoom are available via: spareroom.co.uk
