Crossrail, London’s extensive 73-mile railway track (set to be completed in 2018), is one of the continent’s largest rail construction projects. Designed to link Buckinghamshire, Berkshire, Essex and outer London with the centre of the capital, it is big news for businesses across the south-east.
However, it’s also an incredibly important development for those seeking investment properties in London. The new transport links have made previously undesirable areas of the capital highly sought after, and those investing in property in the UK are now focusing on locations close to proposed Crossrail stations.
Investment Properties for Sale Near Crossrail
Crossrail’s impact on properties so far has been nothing short of impressive. Prices of properties near the Tottenham Court Road development rose 439% within a decade; and its anticipated that property prices in other locations near Crossrail stations will rise by as much as 60% by 2020.
Why is Transport So Important?
According to a Knight Frank survey, 91% of tenants in London state that they want to live within 1km of a transport link. Quite simply, professionals living and working in the capital don’t want to spend hours travelling to work, and prize an easy commute above other factors – even access to local amenities.
It’s precisely this fact that causes property prices to increase steeply whenever a new transport link is constructed. Figures from the same survey show that properties situated within a 10-minute walk of a station in London have risen by an average of 57% – demonstrating the desirability of being situated close to a transport link.
Property Investment Opportunities – Where to Invest?
Here are just a few of the ‘Crossrail hotspots’ you should focus on when seeking investment properties in London.
Buy-to-Let Property for Sale – Buy Smart
However, not all areas served by Crossrail are expected to increase so significantly in value – as in some cases, the new rail route won’t actually reduce commuting time. This certainly applies to areas like Bond Street and Maidenhead, which are already well served by public transport.
In contrast, Woolwich, Custom House, Taplow, Burnham and Ealing Broadway all look set to have commuting times reduced considerably. This means property prices in these areas are likely to substantially increase.
To secure a great price when investing in property (UK), explore alternative methods of purchasing. Buying a property at auction generally provides a good investment opportunity, or alternatively, work with property investment agents in London, who often have properties on their books that aren’t available on the market.
Buy2Let Shop in Bromley
The Buy2Let Shop help property investors to grow their portfolio – not just in London, but across the UK. We hold regular property seminars to ensure you gain better understanding of the market, and we also offer help with buying a house at auction. Additionally, our specialist property investment agents in London have a wide range of properties on file, which aren’t available on the general market.
To find out more, simply visit The Buy2Let Shop site today.