The Crossrail project continues to boost local house prices, with the value of properties in walking distance* of new stations growing by as much as 73% since 2013, new Groundsure research released today reveals. The rate of house price growth in these areas has outstripped the London average by more than 56%.
The top five areas that have seen the biggest growth since 2013 are Taplow (73%), Gidea Park (49%), Custom House (46%), Hayes & Harlington (46%) and Southall (45%). Based on increases in these areas along the route, homeowners who purchased in 2013 are set to pocket on average an additional £117,000**.
The Groundsure research also investigated areas along the route that are yet to see the benefits of the ‘Crossrail effect’. House prices in Harold Wood have only risen by 1%, compared to the London growth average of 17% since 2013. Bond Street and Chadwell Heath saw rises of 6%, Ilford 7% and Tottenham Court Road only 9%.
Table 1: Table showing percentage change (2013-2015) for top 10 highest performing areas within a ten minute walk of stations along the Crossrail route
| Station | % change 2013-2015 |
Average house price 2013 |
Average house price 2015 |
Compared to London average |
| Taplow | 73% | £232,900 | £402,475 | 73% |
| Gidea Park | 49% | £240,309 | £357,860 | 49% |
| Custom House | 46% | £246,022 | £360,143 | 46% |
| Hayes & Harlington | 46% | £213,895 | £311,231 | 46% |
| Southall | 45% | £192,454 | £279,271 | 45% |
| Hanwell | 37% | £376,631 | £514,609 | 37% |
| Forest Gate | 35% | £239,142 | £323,821 | 35% |
| West Drayton | 35% | £216,434 | £291,322 | 35% |
| Stratford | 34% | £239,585 | £321,957 | 34% |
| Abbey Wood | 34% | £184,846 | £246,818 | 34% |
*Based on ten minute walk (800m)
** Based on average house price of £225,100 (2013) and £342,200 (2015) in top 5 performing areas along the Cross route
Information sourced from Groundsure
