5 reasons we love the Elizabeth line and what New Homes benefit from it
Crossrail will be the ‘Golden Bridge’ linking the furthest points of London from East to West. London is buzzing with excitement as the much-awaited opening of the Elizabeth line is finally here. Starting from today, 24 May 2022, the Elizabeth line will operate 12 trains per hour between Paddington and Abbey Wood, Monday to Saturday from 06:30 to 23:00.
Darran Nestel from our Canary Wharf office explores the positive impacts the Elizabeth Line will have on London residents and New Homes.
Countryside living with London on your doorstep
Over the last few years, CBRE has observed many first-time buyers considering the move further out of London, where homes are often more affordable than in Central London. They can provide more space with the feeling of the countryside on the door-step, whilst being just one Crossrail journey away from everything Central London has to offer. Crossrail will help those first-time buyers that traditionally couldn’t afford to buy a property within easy access to their work an opportunity to step on the property ladder.
Top 5 things you will love about Crossrail – Elizabeth Line
- Lifestyle: You no longer have to choose between country living or having central London on your doorstep, yes this really is the best of both worlds easier to commute to and from work
Comfort and design: The modern design is not only nice to look at but also more spacious and comes with air-conditioning, perfect for our British summers and peak commuting times. In addition, all 41 stations will provide step-free access as well as a 'turn up and go' service for anyone needing assistance
Work: Reduces commuting time and the Wifi enables you to check those emails going to and from the office
Holidays: Heathrow terminals are sitting on the Elizabeth Line, making your holiday destination that bit closer and quicker to get to
- Expanding your search: in all this, Crossrail is enabling new buyers to consider more homes, expanding property searches outside of central London
Best of both worlds
Buying a home or investment property close to a London Underground station has always been high on buyers' wish lists. The Elizabeth line will transform travel across London and the Southeast by dramatically improving transport links, cutting journey times, providing additional capacity, and transforming accessibility with spacious new stations and walk-through trains. The Elizabeth line will initially operate as three separate railways, with services from Reading, Heathrow, and Shenfield connecting with the central tunnels from autumn this year.
The new line is set to be crucial to London’s recovery from the pandemic, helping avoid a car-led recovery by providing new journey options, supporting regeneration across the capital and adding an estimated £42bn to the UK economy. Howard Smith, Chief Operating Officer for the Elizabeth line, said: “The opening of the Elizabeth line has always been planned to take place in stages to ensure the new central London stations, signalling and infrastructure can run safely and reliably before it fully links in with services out to the east and west. (Taken from Crossrail’s website)
New Homes Case Study: Southmere
Crossrail at Abbey Wood will provide access to Canary Wharf in just 11 minutes, the City of London in 18 minutes and Bond Street in 25 minutes. Up to £9bn of investment across 200 acres - Thamesmead has the same footprint as central London with an abundance of green space and water - 150 hectares of parks and 30,000 trees, 5 lakes, 7km of canals and 5km of river frontage. Make a smart move South at Southmere. Crane Court is the latest collection of homes at Southmere, part of the award-winning regeneration of Thamesmead, SE2. A new collection of 1, 2 & 3-bedroom apartments available with Shared Ownership prices from: £305,000. View Here.
Example journey times From Abbey Wood:
|Custom House||41 mins||7 mins|
|Canary Wharf||30 mins||11 mins|
|Whitechapel||49 mins||15 mins|
|Liverpool Street||45 mins||18 mins|
|Farringdon||40 mins||21 mins|
|Tottenham Court Road||46 mins||24 mins|
|Bond Street||42 mins||26 mins|
|Paddington||55 mins||29 mins|
What homes will be affected
CBRE are selling many developments that are within walking distance to Crossrail stations. Southmere, located by Abbey Wood, is a development that has recently seen huge demand for apartments from first-time buyers.
Other developments that are highly desirable close to new Crossrail stations are One Park Drive, 10 Park Drive and 8 Harbord Square located in Canary Wharf, 127 West Ealing by West Ealing station, Blackwall Reach walking distance to Canary Wharf, One Crown Place near to Liverpool Street Station and Callis Yard situated in Woolwich town centre. Existing and new homes located near to a station will benefit greatly from the ‘Crossrail effect’ and, we have already observed a significant increase in property demand and an uplift of prices in recent years. We anticipate values will continue to rise as more people recognise the convenience of Crossrail.