The impact of the new Cross Rail train line could drive up house prices in some areas
Cross Rail train line is one of the biggest investments in the London transport system for generations. It will essentially provide fast and accessible transportation links between London and the surrounding regions in the South West and South East.
When completed it is predicted that Cross Rail will be used by more than 200 million customers a year create more jobs and resulting in economic growth. The impact on property prices is huge, the development company’s land and property director Ian Lindsay has claimed that the Crossrail project is expected to add a cumulative £5.5 billion to the value of London real estate. This will effect property along the route from Reading the west to Abbey Wood in the East.
Journey times will be slashed and the tube capacity will be increased by 10%. The following shows how travel times will be reduced.
Reduction in travel time minutes
|PLACE||Stratford||Canary Wharf||Liverpool Street||Bond Street||Heathrow|
|Abbey Wood S.London||21||39||34||31||58|
|Chadwell Heath Essex||14||31||13||28||40|
|Custom House Newham||5||23||29||23||44|