How the transport system affects property prices in London

Ambitious transport and infrastructure project, Crossrail, which is set in London, not only will improve the situation with transport in the UK capital, but will have a significant impact on the London property market, increasing the price of the already cheap accommodation in London.

The project, which is currently underway and will be completed in 2018, will improve the capability of the transport system of London by 10% at the same time will lead to an increase in real estate prices in London on average £60,000 pounds for each object.

The project will have a twofold effect on the London property market. On the one hand, to significantly increase the population of London, on the other hand, significantly reduced the daily time that people spend on the road to work and back.

It is estimated that today 750000 passengers will spend in transit at an average of 15 minutes less, which is equivalent to saving 25% time. About 200 million passengers are expected to travel with the use Crossrail every year, which led to the creation of large transport hubs such as Paddington and Farringdon where, in addition to the construction of the stations , preparing and already conducted extensive public programs to improve infrastructure.

As shown, there is an inextricable link transport communications and real estate prices in the region. Since then, as the Crossrail programme was endorsed by Her Royal Highness in 2008, prices for residential property in London in areas where line Crossrail , were approximately 20% higher than in other areas of London.

Calculated that the reduction in travel time by 10% raises the value of the property at 6%.

If the average time for people travelling on Crossrail will be reduced by 15 minutes, people living on the extreme stations of Maidenhead, Taplow and Burnham will save up to 40 minutes to get to Canary Wharf. And those who live a bit closer, near the stations in Southall, Hanwell and Ealingand will save approximately 20-30 minutes.

Accordingly, it is logical to assume that real estate near the stations, such as Farringdon and Paddington still has a growth potential up to 27% by the time of the launch of Crossrail in operation in 2018.

In addition, the Crossrail project has already had a huge impact on the economy. In the construction of the project employed around 10,000 people in 40 sites across London.

Since the project includes not only transportation, but also infrastructure development, with his appearance it is obvious that London will become even more beautiful convenient and comfortable for the people living in it.

® Maxim Savitsky. 26.11.2013 year.

Investments in London. Stratford

Real estate investment in London. Dickens Yard