The autumn rebranding of First Great Western as Great Western Railway (GWR) is part of a £7.5 billion investment programme which includes the electrification of tracks and the modernisation of both trains and stations between South Wales and London.
According to GWR chief executive Tim O’Toole: “We are planning new or refurbished trains on every part of the network, resulting in more frequent and faster journeys that will keep people moving and communities prospering”.
One of the communities destined to prosper the most from GWR’s investment is Swindon. “The electrification of the train line to London will have a huge impact on the Swindon area,” says Chris Dewhurst, Director at Dewhurst & Co Estate Agents. “Commuting time to Paddington will be reduced to 50 minutes, which is no more than a tube journey from one side of London to the other.”
As London becomes more accessible to commuters living in and around Swindon, the town’s affordable property prices will make it an even more attractive location for homebuyers. A recent study revealed that a home one hour from the capital is on average £450,000 cheaper. Even throwing in the cost of rail travel, the average London worker would be £300,000 better off over the course of their career.
“What is more, property prices in Swindon are significantly lower than those of other places on the GWR line,” says Chris, “which makes it a serious contender for buyers looking for both the right location and value for money.”
“As people realise how close London is by train and as prices along the M4 corridor soar, more and more people will turn to Swindon as a viable alternative. At Dewhurst & Co, we are seeing growing interest from house-hunters currently based in places like Reading, Slough and Cirencester, especially first-time buyers and young professionals. And we are also attracting investors who realise that Swindon property prices are significantly lower than neighbouring cities while rental returns are almost identical.”
Dewhurst & Co - Find out what your budget could buy in Swindon.