London property prices 'boosted by new rail link'
Estate Agents in east London have reported property price increases as a result of the new Crossrail project in the capital city.
Chief executive officer of Young's Group Neil Young said that within 18 months of the announcement regarding the East London line extension, the value of a Dalston development went up.
The Interchange site saw prices increase by around nine per cent above the average for the city during that period, he claimed.
Mr Young remarked: "The impact of infrastructure improvements on the property market is well documented and Crossrail is a prime example of a project which will provide a much-needed boost to confidence in the local markets close to the new route's stations as localised demand for property increases."
Landlords may see the Crossrail development as a good opportunity to make money and provide flats to rent in Hackney and other nearby areas.
Written by Charles Mackay
Published 18th May, 2009
© 2009 Estates IT Limited
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Estate agents in east London have reported property price increases as a result of the new Crossrail project in the capital city.