Crossrail predicted to increase Whitechapel property prices by 54 per cent
- Credit: Archant
Whitechapel homeowners are set to see the biggest boost in the value of their property from the arrival of Crossrail.
Property prices in the area are predicted to rise by 54 per cent in the next five years, the biggest increase in the capital, according to property company JLL.
Price growth there should exceed the Greater London average by 19pc.
Journeys from Whitechapel to Canary Wharf will be reduced to just three minutes from 2018, while travelling to Heathrow will take 39 minutes.
At peak times there will 24 Crossrail trains per hour in each direction, in addition to the existing London Underground and London Overground services.
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Woolwich came second in the leaderboard with a 52pc price rise predicted.
West Drayton, Ealing Broadway and West Ealing are also expected to greatly benefit from Crossrail, with rises predicted of 51pc,50pc and 48pc respectively.
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JLL’s extensive study involved analysis of every Crossrail station and the immediate surrounding area.
It assessed existing residential property, together with the new development opportunities and the medium and long-term potential impact of Crossrail.