With only a year to go, your options are closing in
Profit from a new home along the Elizabeth line. Emily Wright begins a new series on opportunity areas for late starters. This week she looks at Woolwich and Abbey Wood
WHEN it comes to ident i fying London’s f u t u re propert y hotspots, there are few more universally trusted indicators of growth potential than “the Crossrail effect”.
These three words have become something of a catch-all for gauging an area’s prospects since ground broke on the £ 14.8 billion infrastructure project back in 2009. For the neighbourhoods located along the 118 km line, the consensus is they are set to bask in the glow of a myriad benefits.
Those who got in with early property purchases have already seen the risk pay off. House prices within a mile radius of any of the 40 Crossrail stations have shot up 66 per cent since 2009, according to research by Hamptons International. That’s 15 per cent more than the London average over the same period.
And while the financial spoils have tapered as the official launch date has nudged nearer, home owners and potential buyers can still reap the rewards from the advantages that have contributed to the price hikes — from better connections to shorter journey times in and out of central London.
With just over a year to go until the new Elizabeth line, as it will be called, opens in December 2018, we delve into the homes and developments regenerating the hubs along the route, starting
Regenerated: “backwater” Woolwich has seen a recent surge of development