The Lizard is coming!


'The Lizard' is coming in three years but what does this mean for Londoners

You may think that a lot can happen in the next three years but when it comes to making the best moves in the London property market, it pays to be fully prepared. In less than three years’ time, the first Crossrail trains will be running in London on the Queen Elizabeth Line. This line has been dubbed ‘The Lizard’ by some London residents and it is already having an impact on London life and the London property market.

The latest study into relevant property markets suggests that the average property price across The Lizard is 16% higher than the average in greater London. Perhaps more relevantly, the average price for relevant properties is 7% higher than the average price for property that lies close to a station that isn’t connected to this new and improved high speed service.

The main focus of Crossrail is providing faster journey times across the capital, stretching between Shenfield and Reading, while cutting journey times to key hubs like Bond Street, Paddington and Canary Wharf but it also seems as though some property markets have been placed on the fast track to significant value increases.

Whitechapel property market tipped to benefit
While Woolwich in the south east of London looks set to receive the most benefit from this project, there are plenty of areas that will be positively impacted upon, including Whitechapel. It is believed that the average property price in Whitechapel and surrounding areas will rise by over 33% in the next five years. This means that there is still an opportunity to get involved with this property market and it also means that current property owners should be looking to ensure their property can benefit from these rising prices.

Anyone looking for in-depth and tailored information about the impact of Crossrail, The Lizard and any other changes in the London property market should call on Nelsons estate agents in Shoreditch. When it comes to the most informative and helpful Shoreditch estate agents Nelsons is the local property specialist that can be relied upon.

Crossrail encourages further growth
The improved connection across London is an obvious reason why properties in this area are experiencing greater demand but it not as if the new improved rail service comes by itself. The fact that these areas will be in greater demand will see other businesses looking to be seen in the area, so the entire area and community will be better off. The Crossrail transport benefits by themselves would have a positive impact on property prices and demand for local property but it is the raft of community improvements, new stores and infrastructure improvements that create a longer-term benefit after the initial buzz of the new rail system dies down.

The benefits of Crossrail will also be seen in an increase in build to rent apartments in many leading areas, and this is something that many people across the capital will be interested in. Anyone looking to be kept updated with build to rent developments in and around Shoreditch or close to Whitechapel station should stay in touch with Nelsons estate agents for the latest news and developments.