Out-Law News 1 min. read
14 Jun 2013, 2:17 pm
The original research looking at the impact on the property market due to Crossrail was conducted by GVA in 2012. This updated research, entitled "West is Best", looks specifically at the impact on the West and west of London property market.
The research evaluated the Crossrail route between Maidenhead and Acton Mainline stations and highlights areas entitled "zones of influence" that will receive an economic benefit as a result of the scheme. Such areas include Slough, Brentwood and Woolwich.
The updated research was presented at a breakfast seminar, hosted by Development Securities at which Terry Morgan CBE, chairman of Crossrail, Julian Barwick, director at Development Securities and Chris Hall, director at GVA spoke, Development Securities reports.
Morgan said: “Crossrail is already having an impact on property investment decisions. In west and west of London, Crossrail will have a transformative impact as a result of new journey opportunities and direct access to London’s major employment areas,” he said, according to the report. Hall added: "As a result of significantly improved transport brought by Crossrail connections, areas such as Slough, Ealing Broadway and Southall are highlighted as places to watch, with a distinct impact on the residential and commercial property markets. Crossrail is more than a new rail link, it will be the catalyst for regeneration and a key driver in maintaining London’s position as a leading global city and the strength of the wider region.”
