House prices along London's Crossrail route are soaring by up to 85%
05-24-2017
House prices close to Tottenham Court Road station have seen the greatest uplift of 85% (Peter Macdiarmid/Staff)
Property prices along some sections of the Crossrail project’s Elizabeth line have soared by as much as 85% in less than 10 years since the scheme was announced.
Since Royal Assent was granted to the project in July 2008, property prices have increased by 77% within a 10-minute walk zone of each station.
House prices close to Tottenham Court Road station have seen the greatest uplift, rising by 85% during this time. This compares to 38% in prime central London over the same period.
According to analysis by estate agent Knight Frank, the highest rate of house price growth has been recorded in the central section of the train line, encompassing the stations from Paddington to Canary Wharf.
Some 22,699 private units are either under construction or have planning permission in the central section of the route.
Construction of the route – to be known as the Elizabeth Line – is now 80% complete and is due to open to commuters late next year.
It is expected to handle some 200 million passenger journey as year, bringing an additional 1.5m people within a 45-minute journey time from east or west into central London.
