The Elizabeth Line: it’s the new, purple Tube line with the royal seal of approval.
Rightmove recently reported that asking prices for homes along the line have soared by up to a third, and they’re continuing to rise, with analysts predicting average price increases of £133,000 between now and when the line launches in 2018/19.
If you want to move or invest to take advantage of the line, here’s some of our top property hotspots…
Forest Gate is located on the southern edge of Epping Forest, and neighbours Stratford and Leytonstone. It has enjoyed significant gentrification over the past few years, thanks to the Olympic Games and the opening of Westfield shopping centre, and now the anticipated arrival of Crossrail is gentrifying the district even further.
The transport links definitely appeal to potential buyers. There’s an Overground train to the City that takes 13 minutes, and when the Elizabeth line opens, locals will be able to catch a train to Tottenham Court Road in just 17 minutes.
The Zone 3 district also offers a wealth of affordable, Victorian houses, and is a haven for investors and first-time buyers.
We expect property prices to rise by 10% by the time Crossrail is complete.
Crossrail will finally put Ilford on the Tube map! Although it was not traditionally an elegant place to live, it is certainly becoming gentrified as a result of the new transport plans. New build apartments, trendy eateries and bars are popping up in the east London borough, signalling a wave of new buyers coming into the area.
It is one of the best value spots in London. Despite values rising since the announcement of Crossrail. Ahead of the line’s completion, we forecast further price rises of 10%. It believes the area will prosper as a result, making it an ideal location to both live and invest in.
Romford is becoming an increasing popular choice for homebuyers, as many are being driven out of the capital because of rising property prices.
The Essex town offers affordable housing, a quick commute, (you can get to Liverpool Street in 20 minutes), and a wealth of trendy cafes, delis, late night bars and independent shops and boutiques.
House prices have already reached record highs in the area due to infrastructure plans, but we predict they will continue to soar until Crossrail is fully operational in 2019.
If you’re planning a move to take advantage of the line, you’ll need to move quickly, we expect the market to get extremely competitive the closer we get to the opening of the line.