The M25 is a vital transport link graced by millions of vehicles every single year. The orbital motorway encompasses almost all of Greater London; the only part of the capital not inside it is the settlement of North Ockendon. It is the second longest road of its type in Europe, beaten only by the Berliner Ring in Berlin, Germany.
The latest research shows how much value living in close proximity to the M25 has added to homes. Halifax looked at 40 towns close to the motorway to see how prices had risen since the road was completed in 1986. They found that in thirty years the average values had risen by 551%, or from £59,183 to £385,085. The increase translates to an increase in value of £905 for each and every month and £10,863 per year.
The figures are vastly better than those for the UK as a whole. In the same thirty years the average price for a home has risen from £37,763 to £245,926. The close proximity to the capital is just one reason for the rise; the presence of the transport link is another.
There are some areas close to the M25 that vastly outperformed the average of the 40 towns. The best performer was Barnet. It saw a huge 674% rise in values, from £69,744 to £538,708. This is an eight fold increase and almost equal to twice the current average price of a home for the UK as a whole.
Surprisingly though in the last five years Barnet has not seen the highest price growth in cash terms. The town came third, trailing Chigwell and Reigate. The increase was still an incredible £213,284 though.
Barnet remains an attractive area for property investment because of its location and good transport links. We understand this at Finefair and support clients looking to make a purchase and ensure properties are let professionally. We offer a myriad of services with the latter in mind including block management and guaranteed rent.