Travel time to central locations is one of the key drivers of value for London property. Crossrail will provide a step-change in commute time for certain locations, increasing both the demand for homes and the viability of development.

By opening up new sites and improving access to outer boroughs, the new line can play a significant part in increasing London’s housing numbers, particularly if these new stations are accompanied by bold plans for place improvement.

Our analysis reveals that the areas immediately surrounding the stations (500 metres) have not consistently outperformed the wider borough over the last five years since construction started on the line. The promise of a station alone is clearly not enough to push up house prices.

However, our map shows that there is potential for further value uplift in many areas along the Crossrail line. Outer locations offer the greatest value uplift potential but the timescale is likely to be longer, as there are additional barriers to achieving the higher price levels. In central locations value uplift is likely to be driven by improved retail and leisure amenities.

Where development has already occurred, new build schemes have achieved a significant premium to existing stock, but one that can be supported by the new travel time and the place improvement brought about by large-scale regeneration.

For example, in Woolwich at the Royal Arsenal scheme, which is near the station, the current average asking price is £630 psf according to Molior. Meanwhile, the average asking price at the Glasshouse Gardens in Stratford has reached £760 psf.

Click on map below to enlarge

For a brief history of Crossrail, click below

Taken from
Spotlight: London Infrastructure - Connecting Opportunities