The project, set for completion in 2018, could boost housing prices by up to 44 per cent in key points along its London route.
Ealing in the west, plus Woolwich and Canary Wharf in the east are among the areas to benefit, as well as outer London suburbs in Essex and Berkshire.
The east-west infrastructure project is expected to have an even bigger impact on the capital than the latest tube extensions to the Jubilee and East London lines.
According to property consultancy Jones Lang LaSalle, houses in these ‘hotspots’ are likely to outperform the rest of London and could rise by as much as 44 per cent between now and when the first train runs in 2018.
Transport-led regeneration is now considered by many to be the single most important factor in increasing the value of our homes.
As part of the plans, Canary Wharf will now have direct transport links to Heathrow Airport for the first time. Relatively unknown areas such as Old Oak Common in North London, are also tipped to become hives of activity due to their increased transport links.
The news is likely to spark the interest of landlords and property developers who could find massive returns on their buy to let investments in these areas when the improved transport links are fully in place.
“People are waking up to the infinite possibilities of Crossrail,” says Adam Challis of JLL. “Though the launch day is some way off, the construction upheaval around London and our new stations is a reminder of Crossrail’s scale.”
Richard Anthony
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Source: London Evening Standard
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