The Crossrail Effect
New data focused on property close to the Crossrail terminals in London shows that demand has more than doubled in the last year.
It is expected that Crossrail services will commence on the central section by late 2018, In all Crossrail will be connecting 40 stations and it is projected that around 200 million passengers will travel on Crossrail each year.
Russell Quirk, the founder and Chief Executive Officer of eMoov.co.uk, reportedly said: “It’s evident that the forthcoming arrival of the Crossrail development is already having a notable impact on the areas due to benefit. As the primary mode of traversing the capital, the on-going improvements in rail links are continuously changing the London property landscape, in terms of which areas are the most in demand amongst UK buyers.
“It will be interesting to keep an eye on the parts of London due to benefit from Crossrail, particularly that pocket of Park Royal and Hanger Lane up to the Ruislip area. I expect homeowners already living here will see a significant value increase on their property over the next few years and those looking to sell, should certainly consider holding out until Crossrail is up and running at least.”