After a decade of planning and building, the first trains will run on the Elizabeth Line on the Crossrail network this month.
However, the line won’t only be beneficial for commuters, homeowners and property investors along the route also have something to celebrate: a rise in property values.
Emoov put together some statistics that show how much house prices have increased along the Crossrail route over the last ten years.
These are the areas that saw the biggest increase:
- Whitechapel: from £290,000 in 2007 to £750,000 in 2017 (159% increase)
- Paddington: from £769,000 in 2007 to £1.76m in 2017 (129% increase)
- Liverpool Street: from £655,000 in 2007 to £1.43m in 2017 (118% increase)
Not all is lost though, as there are still a couple of pockets where price increases haven’t been as dramatic yet.
Whilst house prices in Abbey Wood have increased by 91% over the last ten years, the current average for a home is still somewhat affordable at £385,000 (at least for London).
Along similar lines, Harold Wood has seen a price increase of 71%, up to £376,000, which still makes it one of London’s more affordable suburbs. West Drayton is another area that comes in at a similar price (£379,000) as property values have increased by 67% since 2007.
And finally, although maybe a little bit more noisy, Heathrow might be another possible option with average house prices of £314,000.
When it comes to the line as a whole, Emoov said prices had increased by 80%, compared to the rest of the capital at 77%.
