Crossrail fuels London house price growth

2 London borough experience house price growth 3 times national average in March

The London borough of Hillingdon in west London has seen the largest increase in property prices in the last 12 months with an increase of 17.1% according to the latest house price data from the Land Registry. Hillingdon will have two stations on the high-speed Crossrail Elizabeth line route. The average property in Hillingdon is now £390,000.

On the east side of London and the new Crossrail Elizabeth line Romford, Gidea Park and Harold Wood, all within the borough of Havering, have also experienced a large increase in property prices with the average price now £361,000.

A study released by property consultant CBRE predicts that average prices around Elizabeth line stations will increase above local house price growth until the line launches in 2018/19, resulting in an average price hike of £133,000 between now and when the first trains run. The new line will result in reductions in travel times with Hillingdon times reducing 27 minutes to the center of London.

Written by: Houseladder