The South East and East End of London have long been known to be quite a challenge for people travelling to and from work, despite their geographical proximity to the centre of the capital. To the relief of commuters from throughout the capital, Transport for London (TfL) are taking steps to ensure that this problem will soon be a thing of the past.
The upgrading and expansion of the Crossrail network by TfL is well underway. Many stations and services are going to be altered, with some being changed for the first time in over a century. Although the aim of the project is to enhance and speed up commuter travel across the whole of London, the main benefactor of the changes will be those living in the East End and the South East Boroughs. The upgraded and expanded network will include at least ten new river crossings, giving a far more frequent route to and from points on either side of the Thames. It is highly significant that many of these new Thames crossings will connect more of London to Canary Wharf, considered to be one of the most important financial capitals in the world.
In terms of how this will impact the dynamics of London’s growing population, most believe that the new Crossrail service will contribute substantially to the regeneration of the East End and South East of London. The prospect of easier travel will serve to make residential properties in these areas far more attractive for renters and buyers.
At this stage, prices across the South East and East End boroughs are lower than the city average. Most of the new services connecting commuters will be active within the next five years. With a far superior level of infrastructure set to launch in such a relatively short space of time, it is difficult not to view this area of London as one of the key places where investors can access a high level of returns.