Launching The Crossrail Collection
05 August 2022
The Elizabeth Line is finally here; over 100 kilometres of track, connecting 41 stations, taking 12 years of construction and costing £18.8 billion.
Dwarfing the London Underground in scale, the Elizabeth Line has increased London’s rail capacity by 10%. Its Class 345 trains, one and a half-times longer than a Tube train, carry 1,500 passengers at a time, ferrying 200million passengers a year. “Spacious, silent and comfortable; this is the gamechanger we need,” said London Mayor Sadiq Khan of the line that directly connects Home Counties east and west, slashing commute times and allowing huge amounts of London residents, previously in poorly connected areas of the capital to travel directly into the employment centres of The City, Canary Wharf and the West End.
Of course, property investors have been describing Crossrail as a gamechanger since its announcement, its effect on property prices well documented. Recent data taken from Rightmove shows that average house prices around the 41 Crossrail stations have increased by 70% over the last decade. And for some stations this might be described as conservative. Maryland Station in Newham has seen prices increase by 108% compared to the London average of 55%; buyer enquiries have increased by 245% in Reading, 372% in Southall and rents are up 44% in Slough. Meanwhile, Mansion Global reports that Crossrail-connected properties command a 14% premium in their locality.
If you haven’t already bought, does this mean you’ve missed the train? Have the big gains already been made? The answer is, no, not at all. In fact, close analysis of the data shows there are 13 Crossrail postcodes where property remains cheaper than the wider area; prices in Southall, West Drayton and Hayes & Harlington are according to City Monitor, ‘significantly below’ the average house prices in their respective boroughs of Ealing and Hillingdon, and we believe these are the areas which show the most potential for growth. These 13 underperforming Crossrail postcodes include Reading (-8%), West Drayton (-17%) and Hayes & Harlington (-15%) which is why we have launched the RPA Crossrail Collection, showcasing three developments, all connected by the Elizabeth Line in areas we have identified as having strong medium to long-term growth potential.
Reading
Maidenhead 12 mins, Paddington 50 mins, Bond Street 54 mins!
A striking development, described as a linear mews, 43 London Street is an exclusive residential club of 21 apartments over three blocks with a courtyard garden at its centre. The Elizabeth Line has yet to be fully operational in Reading, however, London is still accessible in 26 mins on National Rail services. Part of the M4 Tech Corridor, Reading is a major growth city, fast becoming the UK’s leading centre for tech businesses and start-ups. Alongside its growth in employment, and its projected desirability being connected by the Elizabeth Line we see it as an upcoming UK property hotspot for investors.
Hayes
20 mins to Bond Street, 27 mins to Liverpool Street, Canary Wharf in 34!
Commuting to Central London from New Hayes is now quicker than if you were commuting from a Zone 2 location such as Clapham or Fulham – and prices start from only £289,000. Hayes is undergoing a real renaissance with exciting new developments transforming the neighbourhood as a popular and affordable – place to live for young professionals. Choose from studios, one, two and three bedrooms – all with their own private outdoor space and attractive yields of up to 5%
Acton
Paddington 9 mins, Liverpool Street 16 mins, Tottenham Court Road, 22 mins!
Acton is attracting a new legion of buyers priced out of neighbouring Chiswick and Ealing and Bookbinders Point is set to appeal to them perfectly; the first phase in the transformation of Bollo Lane. Sixteen floors of contemporary apartments with a daytime concierge and an elegant roof garden, the development is a 7-minute cycle to Acton Main Line on the Elizabeth Line and a 6-minute walk to Acton Town connected by the District and Piccadilly Lines.
RPA’s founder, Richard has worked in residential development investment for 20 years and oversees the general running of the business ensuring the RPA Group retains true to its founding principles. Over his career Richard has built an incredible network of international property investors and like-minded industry professionals. The RPA Group was born out of a duty of care to provide property investors with an industry-leading and integral service, one that connects investors with quality and desirable investment opportunities, whilst providing reliable and trustworthy market commentary and analysis alongside, enabling investors to make the best, most-educated decisions for them.
