In London, improvements in transport links always bring new attention to areas as buyers look to snap up properties that will rise in value thanks to the increased accessibility once projects are complete. The Crossrail project brought a wave of interest all along the route when it was given assent in 2008. Since then prices have continued to rise with the latest report claiming properties along the route have seen prices rise by an average of 57%.
Areas all along the length of the new rail lines have been rising in value. The biggest rises are those close to stations and within short walking distance. People are more than happy to purchase properties now that will put them just ten minutes walk away from a station, particularly if these same areas are predicted to increase in value further in the future. The most impressive figure is properties around Bond Street Station which are said to have risen by an amazing 82%.
When looking for investment properties it is always important to consider large scale public projects that will take place. In London developments in transport infrastructure are a really good way to spot where new growth areas will be. If you’re lucky you can find an area where prices are affordable but with great potential for growth. In many cases new stations, or station developments, are accompanied by further investment in local areas too. When you buy a property in one of these areas your prospects for the future are good.
With the London property market it is always wise to consider the long term when you buy a property. You can make profits in the short term but it is always best to look to the future. The Crossrail project is set to be finished in 2018. Over the next 3 year house prices are expected to rise by another 18%. If you can find a property within touching distance of one of the stations it could prove to be a wise investment. We can offer property and block management in Hammersmith and Fulham and throughout the rest of London to take care of your investment once you have made it.
