Crossrail has had a noticeable impact on property prices in Boroughs all across London. Areas close to stations that will be served by the new Elizabeth Line have enjoyed the biggest rises, in many cases seeing the price of homes growing by far more than the national average.
One Borough that has seen really impressive rises at its five stations is Newham. Prices are up at Stratford, Maryland, Forest Gate, Manor Park and Custom House according to Property Partners. They report that home values in these areas have rise between 52% and 57% in the last ten years. This is far higher than the national average of 25% in the same period.
Properties in areas close to stations served by Crossrail have long since proven to be very attractive for buyers, whether they are owner occupiers or investors. Those who made the move to purchase in 2007 are reaping the rewards now after the fantastic growth that has taken place. Even further rises are expected in coming years before the services are up and running.
The reason areas close to stations are so popular is the new Elizabeth line will reduce commute times substantially. In many cases property prices in the areas are also considered affordable, particularly in Boroughs in outer Zones like Newham. People are looking to buy or rent homes in these areas where their money can go further but they can still make their way to other parts of the capital relatively quickly.
At Finefair we have seen how much the popularity of homes in Newham has risen in the past decade, particularly around the five areas that have stations. We have been on hand to provide all manner of services in the area, supporting buyers and landlords alike. The latter we have offered everything from bespoke management to guaranteed rent in Newham.
If you are looking for a helping hand with property matters in the Borough or are targeting other areas that will be served by the Elizabeth Line please get in touch with us. We can offer all kinds of advice and great services.