Blog
Crossrail – is now the time to invest in Bucks and Berks?
Tuesday, May 20, 2014
A world-class new railway for London and the south-east
Heralded as “a world-class new railway for London and the south-east”, Crossrail is a brand new rail line linking Maidenhead in the West to Shenfield in the East via London at a cost of £14.5bn of public money. The central part of the line from Paddington to Canary Wharf will run underground, opening in 2018, whilst the remainder of the route will run above ground. The outer sections of the line, including Acton to Maidenhead in the West, will open a year later in 2019.
Benefits to commuters are obvious - from shorter journey times across London, to less congestion and better connections, Crossrail will change the way people travel around the capital. For the first time there will be a direct connection between all of London’s main employment centres; linking Heathrow with Paddington, the West End, the City and Canary Wharf and commuter areas east and west of the capital.
Up to 24 trains per hour will operate in the central section during peak periods. Trains will be 200 metres long and able to carry 1500 people - almost twice as much as current London Underground services - creating a more comfortable passenger experience. An estimated 200m people will use Crossrail each year with many making the switch from road to rail.
Easy commuting distance
It will bring an additional 1.5 million people within 45 minutes commuting distance of London's key business districts with an associated impact on residential property values. These are projected to increase immediately around Crossrail stations in central London by 25%, and by 20% in the suburbs, and in many locations, such as Iver, Langley, Slough, and Burnham, Crossrail will have a transformative effect on the property market.
Langley and Burnham mainline stations are both on the new Crossrail route and will benefit from significantly improved access to London. And with transport links being a key consideration for most people looking to move, both will see increased demand for properties to buy and to rent.
Previously, towns close to the M25 and M4, as well as towns associated with the Channel Tunnel, for example, have all seen above average increases in both property sales and rental prices after improvements to the transport infrastructure were completed. Once Crossrail is up and running, over a 6-10 year period, both gross yields and capital growth should see significant increases over other areas.
Whether a first time buyer looking for a home that will prove to be a good long term investment, a London commuter looking for a suitable home for a family and with easy access to the city, or a savvy buy-to-let landlord, now is the time to think about investing in property in areas along the Crossrail route.
For details of properties available to buy or to rent, search our current portfolio.
