With Crossrail coming to Acton and Ealing, demand for properties has risen by 68% in the last 12 months. These areas will be within much shorter commuting distance to work places elsewhere in the capital. But not only the demand for properties has risen – the values have too!
Northfields CEO, Richard Palfreeman, agrees with The Telegraph article on property hotspots: “We have experienced the strongest rise in values over the past year in the neighbourhoods closest to the new Crossrail stations. A good example is the development in Churchfield Road, Acton, commanding £793 per sqft, with a two bedroom ground floor flat recently going under offer at £675,000. We strongly predict that parts of West London nearby, such as Park Royal and Hanger Lane, will also benefit.” The commute from Acton to Bond Street will be just 9 minutes – and yet this 9 minutes marks a huge difference in price per sqft for housing, £793 vs £3,000 respectively!
Since its announcement in 2004, Crossrail 1 has been a project most talked about. With the works in full swing at Ealing Broadway Station this huge TfL project feels finally real for Ealing, Acton and West London residents.
There will be 40 Crossrail stations in all on this route, including 10 new stations at Ealing Broadway, Paddington, Bond Street, Tottenham Court Road, Farringdon, Liverpool Street, Whitechapel, Canary Wharf, Custom House, Woolwich and Abbey Wood. The new trains are being built by Bombardier Transportation’s UK factory in Derby. Each train will provide space for 1,500 customers in nine fully-interconnected, air-conditioned, walk-through carriages with 4G and Wi-Fi as standard.
The first services through Central London will start in late 2018 – an estimated 200 million annual passengers will use Crossrail. Here is a glimpse of the impact this new service will have on Acton commuter journeys:
|Key Journey Times from Acton Main Line|
|To||Current journey time (2015)||Crossrail Journey time|
|Paddington||8 mins||6 mins|
|Tottenham Court Road||40 mins||11 mins|
|Liverpool Street||43 mins||16 mins|
|Heathrow 1, 2, 3||46 mins||18 mins|
|Stratford||53 mins||25 mins|
If you have any questions on any of this news and the impact it will have on the value of your current home or rental property, please call us on 020 8740 6622.
If you’d like to move to any of these areas, we have a brand new development of 4 2-bedroom flats and a new 3-bedroom house in Acton coming up, visit our website for more details.
We’re here to help!