Even before construction began in 2009, Crossrail was highly anticipated as an innovative rail line with the potential to have a positive and significant impact on London and the South East.
Scheduled to be fully operational by December 2019, Crossrail’s projected impact on improving access to the capital will bring more than 1.5 million people within a 45-minute commute, adding to the It has had a noticeable effect on investment in places. Next is housing prices. And not just in a handful of places, but in every town along its route.
In fact, since 2009, home prices have increased by more than 66% in all areas within one mile of a confirmed Crossrail station. By 2020, or one year after the line is commissioned, these prices are expected to rise by another 35%.
One town that particularly benefited from being located along this line was Slough in Berkshire. Slough, once regarded as a ‘joke’ town and best known as the lonely suburb that was the setting for the British sitcom ‘The Office’, has not only experienced an unprecedented rise in house prices; , house price growth reportedly reached 13.8% in 2017 alone. In 2017, it was voted the best place to live and work in the UK by employment website Glassdoor.
Of course, it’s pretty easy to see when you take a closer look at what’s suddenly so appealing about Slough. The town is home to the world’s largest concentration of corporate headquarters outside of London, including 02, Telefonica, Amazon and Mars, and a total of 450 million yen will be invested to completely transform the town’s retail, commercial, leisure and residential facilities. A project worth over £10,000 is well underway.
The town is already within commuting distance of Heathrow Airport, making international travel easy and providing employment for many Slough residents. Crossrail makes access between Slough and the capital faster and easier, rapidly increasing its appeal as an affordable alternative to living in the capital.
All of this bodes well for property investors looking for opportunities outside of London that are not only more affordable, but also offer high yields and serious potential for capital growth well beyond Crossrail.
Leading UK property developer Seven Capital will be holding a seminar at the Hilton London Paddington on Wednesday 18th April to look at the ‘Crossrail effect’, particularly in Slough. The seminar, which will also include JLL housing research director Neil Chegwidden, who wrote JLL’s report on the impact of Crossrail on house prices along the commuter belt, will cover:
Impact of Crossrail on real estate prices and regeneration around the commuter belt
Which areas of Crossrail are hotspots for investment?
Housing developments within Slough and surrounding areas
Asset value prediction
To reserve your free seat for this seminar, please visit SevenCapital’s website.
For more information about SevenCapital, please visit www.sevencapital.com.
