The Crossrail Effect
Crossrail or the ‘Elizabeth Line’, named after Queen Elizabeth II, is set to open in 2019 and will revolutionise traveling through London. The Crossrail will span over 100km and provide direct and fast links to previously unconnected routes.
In total, 40 stations will be built in over 21 London boroughs to facilitate commuting, ease congestion and improve journey times across London. The high-frequency trains will connect Royal Victoria Docks, the City and West End to Heathrow Airport, Berkshire and Essex!
Crossrail will have stops at well-known London locations including Paddington Station, Bond Street and Liverpool Street Station. This will open new residential areas for commuters and will cut some journey times significantly: A trip from Paddington to Liverpool Street will fall from 23 minutes to 10 minutes!
“Crossrail effects” on London property
Although it’s not yet open, the “Crossrail Effect” on property near the new Elizabeth Line has produced huge gains for homeowners and investors in the decade since the project was announced.
Prices around all 40 stations on the 60-mile railway have risen by more than 41pc in 10 years. The upcoming Crossrail stations have also transformed the reputations of some London areas that were historically seen as unfashionable.
Did you know … In 2012, a study commissioned by Crossrail stated that by 2021 residential real estate prices around new stations were predicted to rise 25% more than the average price rise in central London, and 20% higher than rises in the suburbs.
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