8 Mar

Prices rise near Crossrail project

Prices rise near Crossrail project

Owners of properties close to Crossrail’s Elizabeth Line are enjoying strong increases in value, according to the latest figures.

The Daily Telegraph reports house values along the Crossrail line have risen by 52 per cent since the start of the project in May 2009 - higher than the 30 per cent average house price growth seen in England over the same period.

In particular, demand has pushed up prices in Ealing and Forest Gate, with both London boroughs seeing a rise of more than 60 per cent, according to the figures produced by Zoopla.

This means the average property located close to the Elizabeth Line is worth £511,192 compared to the national average of £298,863.

Lawrence Hall, of Zoopla, said: “Whilst these rises will be welcomed by current owners up and down the line, it’s a reminder of just how hard it is to get onto the London property ladder.

“However with the new line extending as far as Reading in the west and Shenfield in the east it’s likely the property markets at the outer ends of the line will become very competitive as we get closer to the opening of the line.”

It is expected the Elizabeth Line will be fully up and running by 2019 and will provide a vital service for local commuters.ADNFCR-1222-ID-801814181-ADNFCR

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