An article was recently published by the Telegraph forecasting price growth for properties near Crossrail stations that caused quite a stir on social media.
The article reported on a report by JLL that when Crossrail is complete and running in 2019, some areas will experience a bigger uplift in prices than others.
And some will experience much shorter journeys while surprisingly other stations won’t see a dramatic cut in commuting times.
5 out of 10 of the highest house prices rises due to Crossrail are predicted to be in the London Borough of Ealing
West Drayton, Ealing Broadway, West Ealing, Acton and Hanwell are all expected to see dramatic house price rises between 2014-2020.
West Drayton (at a 51% rise), Ealing Broadway (at a 50% rise) and West Ealing (at a 48% rise) all make the top 5.
Acton (at a forecast 48% rise) and Hanwell (expected at a 46% rise) don’t fall far behind.
Southall, although not in the top 10 does come in at number 12 with a predicted rise of 45%.
Ealing Broadway and Acton will see the best improvements to commuting times
Of the Ealing stations Ealing Broadway and Acton will see the most improvement in the time saved in commuting. Some stations won’t actually see any change in the time it takes to get into Central London, but the Ealing based stations perform very well, which will at least partially account for the forecasted property price rises.
What that means for you
If you can possibly buy or trade up the property ladder now in Ealing - you should go for it. Buyers and potential buyers in our community on social media tell us that they are already concerned by the 19% rise in house prices that we’ve seen in the past year, but if the figures published by The Telegraph are anything to go by, we haven’t seen anything yet.
If you already have a property in Ealing, but need to move for whatever reason, trade up the property ladder now so you can to get the most for your money.
Or if you are thinking of moving out of area, you might want to consider hanging onto your property and letting it out – the capital growth you might see over the next 6 years could make it worthwhile.
What’s the best move for you?
If you’re not sure of the best move for you and your family, ask one of our team to give you their expert advice. Call us now on 020 8766 3371 and we’ll get one of local experts to come round and discuss your options. It’s no fuss, it only takes 20 minutes and it’s free.