The UK Property Professional’s (UKPP) London Residential Forum highlighted the impact the Crossrail development will have on the residential market.<\/p>\n
The event saw industry experts come together to discuss\u00a0 features of the London residential market and\u00a0 which areas\u00a0 would see growth and further investment.<\/p>\n
Nick Whitten, Associate Director of JLL kicked off the event with an overview of the market,\u00a0 highlighting\u00a0 Crossrail and the\u00a0 importance it would play.<\/p>\n
\u201cOne quite significant game changer in terms of influencing the residential market is\u00a0 Crossrail coming into place,\u201d said Nick.<\/p>\n
\u201cWe did some research where we visited all 40 stations along the route and analysed a number of factors and the potential for new development.<\/p>\n
\u201cWe determined that Whitechapel, Woolwich, Ealing Broadway and West Drayton to be the biggest areas which would prosper.\u201d<\/p>\n
Andrew Kennedy, Associate Director of Craigleith Finance, said growth\u00a0 would follow\u00a0 infrastructure with rail projects such as HS2 and Crossrail.<\/p>\n
\u201cWe are finding more enquiries for the locations on Crossrail,\u201d said Andrew.<\/p>\n
\u201cEaling is one area where we have looked at a couple of projects, and people are now beginning to predict where\u00a0 Crossrail 2 is going and\u00a0 asking if these are areas to invest in.\u201d<\/p>\n
Andrew Moffat, Director of Property Lending at Wellesley Finance, added: \u201cWe\u2019ve got to look at the commuter market because it represents more than\u00a0 one-third of the UK residential market, so we are always going to find more projects.\u201d<\/p>\n
Justin Kenworthy, Planning Director at Barton Willmore,\u00a0 said\u00a0 the town planning and design company was looking at suburbs in London\u00a0 for potential new projects.<\/p>\n
\u201cWe are identifying\u00a0 areas like Sutton which will have improvements from Thameslink,\u201d said Justin.<\/p>\n
\u201cTooting Broadway is looking good with Crossrail 2 and of course Heathrow could see potential growth.\u201d<\/p>\n
Asked what\u00a0 impact\u00a0 Crossrail\u00a0 has already had on the capital\u2019s residential market, Bob Sturges, Head of Communications at Omni Capital<\/a>, said\u00a0 it has been huge.<\/p>\n “The average price for property within a 10-minute walk of London Crossrail stations has risen 43% since 2008. In prime central London – such as Bond Street – the figure is an eye-watering 80%,\u201d said Bob.<\/p>\n “Even allowing for the steady price appreciation across all types of London real estate, these numbers are impressive (or depressing, depending on your point of view).\u201d<\/p>\n Bob\u00a0 however felt that Crossrail would stretch further than the London market with many outer areas\u00a0 expecting to grow as a result of new transport links.<\/p>\n “Along the length of the line now under construction – from Maidenhead to Shenfield – sitting homeowners are benefitting ‘on paper’ from the Crossrail factor,\u201d said Bob.<\/p>\n \u201cIn Reading – a major rail hub and commuter town, but not directly part of Crossrail – residential property prices are forecast to rise 43% by 2020.<\/p>\n “The opportunities for developers and their attendant financiers are obvious – particularly outside crowded, and arguably over-priced, Zone 1.\u201d<\/p>\n The UK Property Professional’s (UKPP) London Residential Forum highlighted the impact the Crossrail development will have on the residential market. The event saw industry experts come together to discuss\u00a0 features of the London residential market and\u00a0 which areas\u00a0 would see growth and further investment. Nick Whitten, Associate Director of JLL kicked off the event with […]<\/p>\n","protected":false},"author":9,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3,1],"tags":[],"class_list":["post-1297","post","type-post","status-publish","format-standard","hentry","category-news","category-uncategorized"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p9PjAq-kV","_links":{"self":[{"href":"https:\/\/poseidon-gp.com\/property\/wp-json\/wp\/v2\/posts\/1297","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/poseidon-gp.com\/property\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/poseidon-gp.com\/property\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/poseidon-gp.com\/property\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/poseidon-gp.com\/property\/wp-json\/wp\/v2\/comments?post=1297"}],"version-history":[{"count":0,"href":"https:\/\/poseidon-gp.com\/property\/wp-json\/wp\/v2\/posts\/1297\/revisions"}],"wp:attachment":[{"href":"https:\/\/poseidon-gp.com\/property\/wp-json\/wp\/v2\/media?parent=1297"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/poseidon-gp.com\/property\/wp-json\/wp\/v2\/categories?post=1297"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/poseidon-gp.com\/property\/wp-json\/wp\/v2\/tags?post=1297"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}