Crossrail: where to invest
You’ve probably heard the term “Crossrail” being batted about for a couple of years now. It doesn’t refer to the creation of a particularly angry railway, but more, offers an amazing opportunity for better, quicker travel in more connected routes in and out of London than ever before. As we near the end of 2017, there’s just over a year before the new line will be opened. Who else is excited?!
The new rail service is set to carry around 200 million passengers a year and through the new services, Crossrail will increase central London’s rail capacity by 10%. By December next year, the services between Paddington and Abbey Wood will be open for public use and commuters can expect their journey to be significantly quicker. A trip from Paddington to Tottenham Court Road will be 5 times faster, reducing travel time from 20 minutes to 4. #result
Since work started on the infrastructure project, properties that are situated within a mile of the station have risen on average by 66% and with at least 13 months still to go, there’s plenty of time for investors and landlords to snap up properties in key locations along Crossrail, a.k.a the Elizabeth Line.
Custom House, one of the more eastern stops, provides plenty of potential for investors and landlords. With nearby London City Airport undergoing a huge redevelopment and Canning Town receiving a £3.7bn regeneration programme, the E16 postcode is only going to become more desirable.
The new line will connect both commuters and arrivals at London City Airport with the rest of London much quicker than the current tube. Journeys to Paddington and Liverpool Street are going to be more than halved as the current travel time drops from 42 minutes to 20 and 24 minutes to 10 respectively.
With so much investment being injected into the area, the docklands offer a legitimate opportunity to invest in a London property that won’t cost you an arm and a leg. Currently the price of properties in the area are far below the London average of £658,000 and at LiFE, we have properties within a mile from the Custom House station starting at £315,000.
The ‘Lizzy Line is also making Acton Main Line one of its stops. Situated within fare zones 2 and 3, the addition of the Crossrail project to Acton’s train station will turn the 27-minute journey to shopping haven Bond Street into a mere 9 minutes. For those who prefer the fancy, quirky bars located around Liverpool Street Station, the 41-minute commute has been reduced to a quick 16 minutes – yes, quarter of an hour.
Acton itself is a wonderful area filled with beautiful parks, aromatic food markets and enough bars and restaurants to ensure that every night in the area is unique.