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Crossrail and the impact on house prices

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Fri 05 Jun 2015

Crossrail and the impact on house prices

According to the Guardian since 2008 when the Crossrail was proposed property prices located in walking distance to the Cross Rail have soared more than 82%.

The property price increase along the length of the Cross Rail has been varied, with some areas experiencing more growth than others. Bond Street has experienced the most growth along the rail link route. The high speed rail line is estimated to open in 2018 which will have a major impact on the property market. Most commuters wish to be within in 1km radius of the rail link.

House Prices have been gradually creeping upwards since the introduction of the Crossrail. Those houses located within walking distance Crossrail Stations have risen by an average of 28%. Forecasts by property experts suggest that at the time of completion London property prices are set to increase by 18%. The reason behind the increase in house prices is due to the increased development.