Houses prices in areas close to Crossrail stations have increased dramatically since the project was first announced.
The majority of areas close to Crossrail stations have seen above-average house price rises since 2007, the year the project was approved.
According to new research, property price rises in over half the locations near Crossrail stations have seen above-average rises when compared with the rest of the south-east.
Properties in areas near Central London Crossrail stations have seen the biggest price rises along the route.
Bond Street and Tottenham Court Road, for example, experienced an almost 66% rise. In the Paddington area, the average property value was £662,234 ten years ago, while the current average value of property in the area is £1,038,913. This amounts to a 56.88% rise.
The Elizabeth Line, when opens in 2018, will stretch west towards Heathrow Airport and Reading, and east towards Abbey Wood and Shenfield. The line will make it quicker and easier for commuters along the route to reach Central London and other destinations in the south-east.
Prices near many of the new Crossrail stations are continuing to rise, while demand for property near those stations will surely receive a boost once the Elizabeth Line is in operation. This is especially good news for those who already own property or want to let property in these areas.
As well as cutting down commuting times, the regeneration taking place at Crossrail station locations is helping to boost the desirability of property in the local area.
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