Since before its construction began in 2009, Crossrail has been highly anticipated as a game-changing railway line that could have a positive and significant impact on London and the South East.
Set to be fully operational by December 2019, such is Crossrail’s forecasted impact through improving access into the Capital – by bringing 1.5 million more people within a 45-minute commute, it has already had a noticeable effect on investment into locations along its route and, subsequently house prices. And not in just a handful of places, but across all towns along its route.
Indeed, since 2009 all areas located within one mile of a confirmed Crossrail station have seen house prices increase by upwards of 66%. By 2020 – one year into the line’s operation – these prices are predicted to rise by another 35%.
One town in particular that has benefitted from being situated along this line is Slough in Berkshire. Once considered a ‘joke’ town, known best as the dreary suburb that was the setting for British sitcom ‘The Office’, Slough has not only seen an unprecedented rise in house prices – in 2017 alone house price growth reportedly hit 13.8% – but in 2017 it was named as the best place to live and work in the UK in a survey by employment website Glassdoor.
Of course, looking closely at what it is about Slough that has suddenly grown in appeal, it’s fairly easy to see. The town is home to the largest concentration of global headquarters outside of London, including 02, Telefónica, Amazon and Mars and projects totalling more than £450 million are well underway to completely transforming the town’s retail, commercial, leisure and residential offering.
The town is also already within a short commutable distance of Heathrow Airport, making overseas travel easy and providing employment for many Slough residents. Now that Crossrail is about to make access between Slough and the Capital so much quicker and easier, its appeal as an affordable alternative to life in the Capital is skyrocketing.
This all bodes well for property investors looking for opportunities outside of London that are not only more affordable but offer serious potential for high yields and capital growth far beyond Crossrail.
Leading UK property developer SevenCapital is running a seminar looking at ‘the Crossrail Effect’, specifically on Slough, on Wednesday April 18th at the Hilton London Paddington. Joined by JLL Residential Research Director Neil Chegwidden, who authored JLL’s report into Crossrail’s effect on house prices along the Commuter Belt, the seminar will cover:
Crossrail’s effect on property prices and regeneration around the Commuter Belt
Which areas along the Crossrail route have become investment hotspots
Residential developments within Slough and the surrounding area
Property value forecasts
To book your free place at this seminar visit SevenCapital’s website.
For more information on SevenCapital visit www.sevencapital.com.
