Newspaper article The Evening Standard (London, England)

Street Set to Be a Property Hot Spot

Newspaper article The Evening Standard (London, England)

Street Set to Be a Property Hot Spot

Article excerpt

Byline: HUGO DUNCAN, ANDREW HOUGH

HOMEOWNERS who live near the new Crossrail stations are likely to seetheir house prices soar.

Hartley Beames, of Knight Frank residential development, said: "Crossrail isjust what London needs. It will produce hot spots where property prices arelikely to increase over and above the market in general." Knight Frank believesLondon prices will go up by about six per cent a year between now and 2017 whenCrossrail opens. Homes close to Crossrail stations will go up by nine-12 percent.

These areas include Abbey Wood in Greenwich where the average price of a housecould rise from [pounds sterling]270,000 now to more than [pounds sterling]800,000 in 10 years.

Abbey Wood is serviced only by a mainline station with journeys to LondonBridge taking 25 minutes. It will be the last stop on a Crossrail spur to theSouth-East which is subject to rumours that the spur will be delayed. However,when Crossrail does open, Abbey Wood will be just three stops from the Isle ofDogs, with access to the Jubilee Line and DLR, and four from Whitechapel forthe Hammersmith & City, District, and East London Lines. …

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