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
London Rental Property News By London Borough / Category
Latest London Property News Headlines
Streatham town centre to be improved by BID?
Major improvements could be made to Streatham town centre thanks to a new business partnership.
Read Article ... Published on 25th May, 2012
Olympic infrastructure 'to drive east London house market'
The infrastructure created by the Olympics will see the east London property market become more popular.
Read Article ... Published on 24th May, 2012
Olympic infrastructure 'to drive east London house market'
The infrastructure created by the Olympics will see the east London property market become more popular.
Read Article ... Published on 24th May, 2012
Barking Splash Park opens this weekend
Barking Splash Park will be free to use this weekend (May 25th-27th) to mark its opening.
Read Article ... Published on 24th May, 2012
Southwark estates to get cheaper energy bills
Residents in Southwark can look forward to cheaper energy bills thanks to the creation of a new underground green network.
Read Article ... Published on 23rd May, 2012
Enfield £1.3bn masterplan unveiled
A masterplan has been unveiled that will see a 200-acre site in Enfield regenerated as part of a £1.3 billion plan.
Read Article ... Published on 23rd May, 2012
Londoners encouraged to grow their own fruit and veg
People in London are being encouraged to grow their own fruit and vegetables.
Read Article ... Published on 22nd May, 2012
Merton 'embraces green improvements'
Merton is now a cleaner, greener location to live in thanks to the implementation of the Wandle Valley Low Carbon Zone (LCZ).
Read Article ... Published on 22nd May, 2012
London house prices rise by 1,782% in past 35 years
London house prices have increased by 1,782 per cent in the last 35 years.
Read Article ... Published on 21st May, 2012
Poplar's Chrisp Street to get £100m regeneration
Some £100 million is to be spent regenerating the Chrisp Street area of Poplar in Tower Hamlets.
Read Article ... Published on 21st May, 2012
Estate agents in east London have reported property price increases as a result of the new Crossrail project in the capital city.