Whoever wins the mayoral election this coming May will have to address the key issue of the proposed location of a new airport runway in the South East.
However, this apparent stalemate presents a huge contrast with the plethora of new transport links and upgrades powering ahead in the greater London area.
For anyone looking to buy, it is critically important to keep abreast with developments.
London’s population is growing fast and the increase in property prices means that more and more buyers are looking further afield for a property which is within their budget.
Transport links between more outlying or previously neglected areas and key centres of employment therefore become ever more important. Many of the plans may be a decade away from fulfilment, but immediately become part of the property narrative and affect prices.
Plans include Crossrail 1 (due to open 2018) and Crossrail 2 as well as 13 proposed new Thames crossings, both bridge and tunnel, with most of them in East London.
Already operating and with extensions planned are the London Overground which, for example, runs from Croydon in the west into Canary Wharf, with other strategic links via the Underground and the DLR. There’s the new Northern Line extension from Kennington to Battersea and advance planning for an extension of the Bakerloo line from Elephant and Castle deeper into the South Eastern suburbs.
For cyclists, there is the current construction of the Cycle Superhighways both West to East and South to North.
What all this means is that opportunities abound for some shrewd, far-sighted purchases. For agents, investors and homebuyers alike, transport links and investments in improving services are key predictors of house price growth, rental growth, and increased total returns and are essential factors to keep under close attention.
Reference: https://www.ludlowthompson.com/property_news/new-transport-links-opening-access-and-long-term-investment-opportunities/article.htm?id=1501