Crossrail how a new train service means big money for investors
With the UK population predicted to rise to 70 million within the next twelve years and London expected to home a staggering 13 million by 2050, our capital is experiencing a growth never seen before.
Responding to this ever increasing demand for housing, the government have introduced a number of large scale projects designed to encourage economic growth; regeneration schemes are popping up all over the capital, and plans are underway to significantly improve transport links. But according to property experts Eden Harper it’s the biggest transport project of them all, Crossrail, that’s really going to breathe new life into the capital and has got seasoned investors excited for the future.
Due to launch in the autumn of 2018, Crossrail will revolutionise London’s infrastructure by connecting Canary Wharf and the City to Heathrow, the West End and the leafy suburbs. It’s expected to generate an income of a staggering £500 million and is already making many of London’s previously less desirable areas seem far more popular. According to Newington Green estate agent M&M Property, “The emergence of Crossrail is having a significant impact on the property market in London and beyond. Areas like Stratford and Acton are becoming increasingly popular, and there are some significant opportunities to see a major return on investment over the coming years.”
With easier connectivity to the City and centre of London, professionals are recognising the benefits of moving outside zones 1 and 2 and going for the previously less popular outskirts. With regeneration projects brightening up the high streets and creating well appointed, good looking homes, areas which had previously been considered as the poor relations are now incredibly attractive for investors, who are taking advantage of low property costs.
So where are the most popular property hot spots in London right now? Here are just a few of the areas that investors in the know have their eyes on:
Acton- Subject to a major regeneration scheme, Acton has undergone a real metamorphosis from moth to butterfly over the past few years. Acton Gardens is an impressive new residential area with lots of green space- making it an attractive option for professionals and families alike.
Canary Wharf- Long recognised as the hub of the finance world, Canary Wharf now offers some stunning residential properties too. If you’re looking for chic penthouses and sophisticated wine bars, this is an area well worth considering.
Hackney- Always popular with young, fashionable professionals and creatives, Hackney is a colourful, vibrant and thriving community. With a good mix of old and new, the area boasts some impressive architecture and still retains its quirky, multicultural charm.
Nine Elms- With 16,000 new homes, a Covent Garden style market and a US Embassy planned, Nine Elms is already one of the hottest topics on investors’ lips. It’s been a popular choice with overseas investors, and if you’re looking to make a significant return on your investment it’s a good idea to act soon.
Stratford- This area’s involvement in the 2012 Olympics really helped to get Stratford on the map, and it’s been part of a huge regeneration scheme. Its previous reputation for being run down and undesirable is finally on the way out- Stratford is now buzzing with new life and is becoming a popular shopping destination.
Denhan Guaranteed Rent says “Whatever your favoured destinations, Crossrail and regeneration projects are transforming London and bringing some serious opportunities to make money.