Crossrail route to enjoy 25% house price rises

Turnbull2000

http://www.standard.co.uk/news/transport/london-property-prices-crossrail-will-boost-house-prices-by-up-to-25-per-cent-8213385.html

Homeowners living along the route of Crossrail are expected to enjoy a huge windfall over the next decade as property values soar by 25 per cent, according to a new study.



The first detailed research into the economic impact of the project said rising house prices would be part of a £5.5 billion surge in commercial and residential developments around new stations by 2021.


Some 57,000 new homes and 3.25 million square metres of commercial space — more than double the capacity of Canary Wharf — would cluster around some of the new stations, the study claims.


Hotspots enjoying a 25 per cent house price rise would be centred on Ealing Broadway, Southall, Hayes and Harlington, Farringdon, Whitechapel, Custom House, Woolwich and Abbey Wood. Those near stations at either end of Crossrail, in Berkshire and Essex, would see home values increase by 20 per cent above the baseline trend.


The area around Tottenham Court Road would also benefit.

Louisa Wood, 32, “I’m going to get in quick. If I own a house and it goes up in value by 25 per cent and I can get into central London in five minutes, I will be happy.”

Get on that ladder quickly Louisa, don't miss the boat!

shortchanged_2

Yet another wild estimate plucked out of the air.

Who owns the Standard paper by the way?

Eellogofusciouhipoppokunu

shortchanged wrote: »

Yet another wild estimate plucked out of the air.

Who owns the Standard paper by the way?

How do you know the estimate is wrong?

Is it any different from your wild retort plucked out of the air?

(just playing forum Devil's Advocate, I have no VI in London prices)

somethingcorporate

There are two kinds of forecast - wrong ones and lucky ones. I am still undecided as to which the above will be.

abaxas

shortchanged wrote: »

Yet another wild estimate plucked out of the air.

Who owns the Standard paper by the way?

It involves economics, hence is automatically tagged 'pure lies'.

Loughton_Monkey

shortchanged wrote: »

Yet another wild estimate plucked out of the air.

Who owns the Standard paper by the way?

According to my understanding:

On 21 January 2009, Russian businessman and former KGB agent Alexander Lebedev and son Evgeny Lebedev, now the newspaper's chairman, agreed to purchase 75.1% of the newspaper for £1

So this implies the following:

1. Be very careful what you say. When the next revolution comes, you do not want to be fingered for having libelled the Evening Standard.

2. When the KGB says prices will go up 25%, then they will go up 25%. That's an order.

3. Disbelievers are likely to find themselves "supporting" crossrail in ways they didn't expect. A few feet under the footings of the sleepers for example......

Graham_Devon

25% over 10 years.

Pass me a tissue.

Loughton_Monkey

Graham_Devon wrote: »

25% over 10 years.

Pass me a tissue.

It's 25% "over the baseline trend". Not to be sniffed at, even in your tissue.

Graham_Devon

Loughton_Monkey wrote: »

It's 25% "over the baseline trend". Not to be sniffed at, even in your tissue.

I'd suggest my tissue is never to be sniffed.

chewmylegoff

Why the fook would house prices in farringdon rise 25% as a result of cross rail. Quick let's all move to farringdon because now we can get to whitechapel in 5 minutes, and it will be much easier to get to southall?!

I suggest that prices in farringdon (where hardly anyone actually lives) will rise by precisely 0% as a result of crossrail because it is already very expensive and close to the city, so it's not as if prices will suddenly bounce just because you can get to canary wharf slighly more easily.

If house prices are going to rise by 25% above "norm" or whatever as a result then that means prices aren't rising in other areas of london as much - i.e. demand is being concentrated into "crossrail areas". With any luck it will move all of the inflationary pressure from richmond to southall.

Thrugelmir

chewmylegoff wrote: »

I suggest that prices in farringdon (where hardly anyone actually lives)

Very commutable to Oxford amongst other places.