An Elizabeth line sign

Where is the cheapest place to live on the Elizabeth line?

More than 8million people call London home, but even more come and go from the city every day.

Finding affordable accommodation in London is a challenge for existing Londoners as well as those looking to make the move.

Data from property website Rightmove shows the average price of a London home from 2022-23 was £707,094. It also depicts a daunting 10% increase in prices over the past three years.

However, the new Elizabeth line, which became fully operational in 2023, allows rail travellers to commute across the capital, faster than ever before.

Potentially, this makes regions which may have been previously unsuitable for some, suddenly more appealing.

The interactive map below shows where the cheapest housing is in London and across the Elizabeth line.

On the line’s western arm, Reading is the cheapest area. As well as being the terminus station for the Elizabeth line, Reading offers transport links to many other parts of the country.

Connections include Bristol Temple Meads and Birmingham New Street.

Beth Reilly, from Reading-based Hunters Estate Agents said: “We’ve definitely seen more interest since the Elizabeth line was completed.”

According to Rightmove, the average price for a house in Reading was £435,282 over the last year.

Reilly described the areas in Reading that would be appealing to those on a budget.

She said: “Lower Earley is qute favourable but on a real budget you’d be looking at the Oxford Road and Tilehurst.

“And of course near the station, people always want to live there.”

Despite this, Reilly did offer the reminder that cheap is still a relative term. She said: “While it is cheaper here than in areas in and around London, it’s still expensive.

“For renters, you’re looking to pay about £700 a month for a room in a shared flat.”

For the eastern section of the line, the average house price in Barking and Dagenham is an appealing £406,700.

According to the Rightmove data, this borough is the cheapest place to live on the Elizabeth line.

Estate agents Century 21 Barking & Dagenham operate in the area and director Rameez Saeed, discussed why this might be the case.

He said: “It’s very easy to commute – Barking and Dagenham had good connections anyway and the Elizabeth line has only improved this.”

He described how one of the reasons for this could be the relatively small size of houses in the area because of region’s industrial history.

Saeed explained that within the borough, homes in Dagenham were cheaper than Barking. However, he did also allude a rise in prices across both regions.

He said: “Prices in Barking are already rising, rapidly, new build two bedroom flats were selling at about £350,000 three to four years back.

“Flats being built now are can be £400,000 plus.”

More information on propety price trends, for London and it’s surrounding areas, can be found here.

Featured image credit: David Hawgood via Geograph (CC BY-SA 2.0)

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