The iconic M25 orbital motorway that helps those from commuter towns surrounding London find their way to work every day, is 30-years old! And in the three decades since its opening in late 1986, the motorway has had quite an effect on house prices, new data has shown.
Strong transport links mean that towns around major cities can see their values rise in the eyes of commuters, and this is something that has undoubtedly happened around the M25 in the last 30 years.
According to the report published by the Halifax, in that period, 40 towns around London on the M25 have seen their values increase by an average of 551 per cent, showing the true value for commuter towns of good transport networks.
Over the 30-year period, there was an average increase in the value of homes in these towns from £59,183 in 1986 to £385,085 in 2016, a rise of £325,903 in the space of three decades. It means that homes in these areas have increased by an average of more than six per cent per year since the road opened.
The figures also show that ten towns out of the 40 have seen their property values increase by an average of more than £400,000 in the period, with Rickmansworth leading the way and becoming the most expensive of the M25 towns.
A breakdown of the figures also show that the area of the M25 that has seen the biggest effect has been the south side, with homes in towns to the south of London having seen the biggest rise in 30 years. On the other hand, towns on the east side of the orbital motorway have seen the lowest rises in price in the same time.