We were delighted to hear the recent news that the much anticipated Crossrail works have begun at Custom House DLR station.
This prime area neighbouring the Excel exhibition centre in the Docklands is set to undergo a substantial investment programme that will make the area even more appealing to London’s young professionals.
Works began on the 3rd of February 2017 for an expected Period of 11 months in preparation for the new Crossrail station that will start operating in 2018.
Over 300,000 litres of concrete and some 400 tonnes of steel will be used in the construction work and when finished, the capacity of the station will increase by over 50%.
A fleet of advanced 200 metre long trains will start operating in December 2018 with reduced travel times to central London cutting journeys to places such as Bond Street from 24 minutes to just 10 minutes.
This is without doubt a key factor that will influence house price growth in the immediate area over the coming years.
A recent report by Knight Frank regarding the impact of Crossrail shows that prices near Custom House increased by 16% in one year. Obviously, this effect will be more exaggerated when Crossrail starts operating. Furthermore, the report showed that proximity to Custom House Crossrail station is likely to have an annual increase in house price growth of 4.53% ABOVE the normal rate of growth in the docklands.
Crossrail at Custom House will cut journey times to Liverpool Street from 24 minutes to just 10 minutes. Journeys to Paddington will be reduced from 42 minutes to just 20 minutes.
Call the team today at OffMarket Invest to learn more about our two stunning luxury developments just a short walk from Custom House Crossrail station.