If you’re planning to invest in London properties, it pays to look at transportation infrastructure and planned improvements. As TFL makes improvements to both the London Overground and Underground, areas of London that were previously less accessible will see sharp property price increases.
Investors do not need to buy in the immediate spotlight areas to benefit from these infrastructure improvements – for example Oval and Stockwell are near the new Nine Elms development in Battersea and should see price increases. The proposal for a bridge in the area will also link Wandsworth to Westminster, which will be a valuable addition to the area.
The new Crossrail route will link many London areas to Canary Wharf, offering additional housing options to workers in the area. Woolwich is currently one of London’s cheapest areas to live, but the new Crossrail station in the area will inevitably drive up demand and prices.
New stations are also being planned at Whitechapel, West Drayton, Ealing Broadway, and Abbey Wood, with 12 trains per hour taking residents to Docklands, the City, and the West End. Plans for Crossrail 2 will also make Lea Valley Park more accessible, connecting home to numerous central London job opportunities.
Investors should act before 2018, when the stations open and the line will officially be called the Elizabeth line. Crossrail locations are expected to see price growth of 7-16% above the Greater London average in the next 4 years. However, locations such as Ilford, Forest Gate, Abbey Wood, Slough, and Southall are expected to have longer-term potential. Estimates put the increased property values along the Crossrail route at around £5.5 billion already.
Forecasters also see positive signs for investors looking further afield in Surrey and Hertfordshire – Crossrail 2 will link up these areas to stations on the London Underground, Overground, and Crossrail 1.
Categorised in: News
This post was written by Innermedia Ltd