Crossrail house price growth lags behind South East average

Despite slashed journey times promised by Crossrail and massive investment along its route, house price house price growth near 40% of stations has lagged the average for the South East. Only 24 out of 40 stations near Crossrail stations have seen property prices rise by more than 41% since the infrastructure project was approved in 2007, according to research by Property Partner. Crossrail is due to be completed by the end of 2018. In general, inner London stations have seen the highest price rises since Crossrail was announced, particularly Bond Street and Farringdon, which have been accompanied by significant development. Dan Gandesha, chief executive of Property Partner, said: “Prices near many Crossrail locations are still forecast to keep rising. Demand from owner-occupiers and tenants will only intensify once the projects are complete. “For example, it currently takes 35 minutes to travel from Ealing Broadway to Liverpool Street station. That time will be almost halved when Crossrail arrives.” Stations further from the centre have seen seen less of a boost. However, all 40 stations along the new Elizabeth line have achieved nearly double the average house price rise of 25% in England. The cheapest average house price on the 40-station route is at Abbey Wood, at £289,468. Av prop value Av prop vale 2007 % change value Abbey Wood £289,468 £179,482 61% Acton Mainline £637,190 £404,052 58% Bond Street £1,705,486 £1,029,137 66% Brentwood £512,173 £374,095 37% Burnham £333,904 £238,895 40% Canary Wharf £590,393 £388,314 52% Chadwell Heath £333,431 £233,136 43% Custom House £318,666 £208,907 53% Ealing Broadway £823,613 £522,995 57% Farringdon £804,192 £510,760 57% Forest Gate £400,125 £254,987 57% Gidea Park £460,131 £321,725 43% Goodmayes £355,512 £254,592 40% Hanwell £551,812 £346,594 59% Harold Wood £378,910 £264,935 43% Hayes & Harlington £355,780 £237,076 50% Heathrow Airport £383,151 £276,205 39% Ilford £400,332 £286,689 40% Iver £594,060 £439,231 35% Langley £381,362 £270,029 41% Liverpool Street £777,550 £499,582 56% Maidenhead £551,697 £402,141 37% Manor Park £376,971 £244,279 54% Maryland £383,081 £247,644 55% Paddington £1,038,913 £662,234 57% Reading £425,804 £313,783 36% Romford £359,058 £251,054 43% Seven Kings £379,173 £271,536 40% Shenfield £744,386 £543,705 37% Slough £388,522 £275,079 41% Southall £381,034 £261,107 46% Stratford £381,979 £247,252 54% Taplow £509,249 £371,200 37% Tottenham Court Road £1,705,486 £1,027,463 66% Twyford £475,474 £350,386 36% West Drayton £360,478 £245,323 47% West Ealing £658,239 £419,742 57% Whitechapel £729,885 £468,957 56% Woolwich £336,611 £215,610 56% • To send feedback, e-mail alex.peace@estatesgazette.com or tweet @egalexpeace or @estatesgazette