Property group forecast impact of Crossrail on house prices for 2020
Property group JLL has made a forecast of property prices along the new Queen Elizabeth Line also known as Crossrail.
“With many locations already benefiting from higher property values, as well as new development and regeneration, buying activity is expected to step up another gear in the run up to the line’s opening,” said Neil Chegwidden, Residential Research Director at JLL.
“Crossrail continues to drive value growth right across its length. In the current market, what is becoming clear is the additional benefit it brings to some of the lower value locations along the route. It is supporting regeneration through improved accessibility and, as a result, offers a longer-term capital growth potential that may be harder to identify in central zones,” he added.
Chegwidden also stated that Crossrail is likely to be the catalyst for Build to Rent apartment schemes. “We predict that the most beneficial stations around which to develop product for rent are Whitechapel, Woolwich, Ealing Broadway, Acton, Slough and West Drayton, with rental growth over the next five years forecast to be strongest in Whitechapel, Woolwich, Ealing Broadway, West Ealing, Acton and Hanwell.”
Below are JLL prediction for house prices increases to 2020.