Crossrail effect increases property investment along the Elizabeth line
The ‘Elizabeth line’, named after Queen Elizabeth II, is set to open in 2019 and will revolutionize travelling through London. The high-frequency trains will connect Royal Victoria Docks, the City and West End to Heathrow Airport, Berkshire and Essex.
In total, 40 stations will be built in over 21 London boroughs to facilitate commuting, ease congestion and improve journey times across London. Abbey Wood, Bond Street, Canary Wharf, Custom House, Farringdon, Liverpool Street, Paddington, Tottenham Court Road, Whitechapel and Woolwich will all have brand new stations.
The high -speed train with a modern and spacious interior will resemble the Overground and the new Thameslink and will also offer, the additional feature of air conditioning. Most of the line will run above ground, but a 13-mile stretch runs under central London.
The Crossrail will span over 100km and provide direct and fast links to previously unconnected routes. The “Crossrail Effect” which is the significant rise of property prices near the Elizabeth line has been observed since the news was announced in early 2013. The effect is ongoing since recent forecasts show that property prices along the line should continue to increase by at least 3.3% per year until the line opens.
House prices in areas that have access to Crossrail will rise by 20% in suburban locations and by 25% in Central London, according to the Property Impact report.
Buy-to-let investors and overseas investors are flocking into the London market to benefit from the highly anticipated Crossrail 2. The £31bn Crossrail scheme is set to be a huge potential for prospective investors who are already tapping into the project’s future capital gains and spotting the regeneration plans along the Elizabeth Line.
Hoola East London
At Copperstones, we currently advise overseas investors and potential buyers to purchase or rent properties in the fast-growing East London. Specifically, E16 the Royal Docks postcode has been an upcoming desirable address to live in due to its links to the City, Canary Wharf and the upcoming Elizabeth Line. We have handpicked prime properties for our clients in the ultra-modern Hoola development. Residents of Hoola will enjoy a 24hr concierge service, a residents-only gym, lounge, fast links to London City Airport and the ExCel. Hoola is located in an upcoming waterside neighbourhood with two towers comprising 22 and 23 storeys, respectively.
To learn more about Hoola please call our dedicated team today on+44 203 888 5555
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