The Anonymous Widower

Elizabeth Line Delivery To Top Original Forecasts On New Homes Created With Property Values Expected To Soar

The title of this post is the same as this article on City AM.

This is the first three paragraphs.

The number of homes and jobs created due to the development of the £14.8bn Elizabeth Line is set to greatly surpass expectations, according to a new report by commercial property agency GVA.

The research, commissioned by Crossrail, found that the impact of the new railway on the creation of new homes and impact on property value, is set to be significantly greater than GVA originally predicted in a 2012 report.

GVA expects 90,599 new homes along the route by 2021 – higher than the 57,000 new homes predicted in the previous report. GVA also expects a £10.6bn increase in property values within 1km of an Elizabeth Line station by 2021.

Although, there are lies, damned lies and forecasts from property consultants, the significance here, is that both surveys were done by the same company.

From personal experience, I know that London’s last big railway project, the Overground, had a similar beffect.

I think these and other rail developments will increase property development and values in the next few years.

  • Birmingham electrification and new train fleet.
  • Blackpool and North-West electrification.
  • Edinburgh Glasgow Improvement Program
  • Exeter local services expansion.
  • Hasting’s HighSpeed services from St. Pancras
  • Manchester Metrolink expansion.
  • Merseyrail’s new train fleet.
  • Midland Metro expansion.
  • Ordsall Chord
  • Southend Branch improvement and new trains.
  • Thameslink
  • Tyne and Wear Metro’s new train fleet

Before buying a house look at what is happening to the trains and trams.

 

 

 

January 31, 2018 - Posted by | Travel, World | , ,

2 Comments »

  1. Increase in property values is a mixed blessing. If you already own your home, as Neil and I do, and you plan to remain in it rather than move somewhere larger, and Neil and I do, a big increase in house prices would be nice, if we want to move to retirement accommodation at a later date.

    However, for people who are not yet able to buy for some reason, it is bad news, and for people who will be wanting to upsize it may be bad news because the differential between what they sell and what they hope to buy will be greater.

    I do not only have the house I live in, I am using the bulk of the money I inherited to buy properties to let, in a North West town 30 miles from where I live – nice town, most people on low incomes and struggle to raise a deposit to buy, large private rental sector. So a big increase in property values would be in my interests there; although I wouldn’t want to seriously increase rents if it meant it priced my tenants out of the market.

    Comment by nosnikrapzil | February 1, 2018 | Reply

    • C was keener on second properties than I ever was, but I just have the one house for myself in a generally quiet street close to many bus routes taking me all over Central London. I might move as I’d like a view from perhaps the 15th floor of a tower with two bedrooms and a proper concierge. It will probably be on top of a station, so I could still travel!

      Comment by AnonW | February 2, 2018 | Reply


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s