In London, travel time and convenience is everything. So one way to look for promising property investment locations is to look for places that are due to become more accessible as a result of new transport links.
Here are 15 London locations that are set to become more accessible (and hopefully more attractive to buyers and tenants) over the next few years:
Acton. Spot-the-places-Crossrail-will-turn-into-a-hotspot has become a bit of an obsession in London over the last few years. Of the many stations on the line we’re tipping Acton as the place to watch. Acton has always been a bit of a poor relation to Ealing but we think that four trains an hour putting Tottenham Court Road within 10 minutes will make it just too hard to resist.
Dalston, Tottenham and the Lea Valley. Crossrail 2, if it goes ahead (which seems very likely) could make these areas super-accessible from central London as from 2030. Watch for details of the likely route, to be announced in 2016.
Nine Elms and Battersea. When the tube arrives here in 2020 these places will be 15 minutes closer to the City. Not a lot maybe, but for time-poor commuters that’s an extra 2½ hours a week to do something better than travelling. Think about it.
Barking Riverside. Around 11,000 new houses are coming here over the next few years, plus a new station with a direct connection into the London Overground. Services could start as soon as 2020, with confirmation of the new route expected soon.
Hendon. Hendon is currently a fairly sleepy (sic) station on the Midland Main Line where, oddly, most fast trains don’t actually stop. The new Thameslink route network should give it frequent, fast trains to central London and other destinations north and south from 2018.
Wimbledon. Again, from 2018, Thameslink’s likely timetable will mean this already pretty desirable spot will be even more accessible.
You might also find this Insider Report useful: How to take on the London property market and win!
New Queens Park. New where? you’re saying. Currently better known as Old Oak Common (near Willesden Junction). Under current proposals HS2, Crossrail, the Great Western Main Line, the London Underground and Overground could all converge at New Queens Park, where lots of residential and commercial development (and a new ground for QPR) is planned too. Lots of plans need to fall into place to make all this happen, but we think you’ll be able to see the potential.
Lewisham. Already pretty accessible, opening of the DLR to Lewisham doubled passenger numbers within a year two. There are currently proposals to extend the Bakerloo line from Elephant & Castle via either Camberwell and Peckham Rye or Old Kent Road to Lewisham. Watch out for an announcement in 2016.
Watford. New tube stations at Cassiobridge and Vicarage Road will not only give these areas direct access to the Metropolitan line of the tube, but make them one stop away from London Overground and mainline connections at Watford Junction too.
Woolwich, Thamesmead and Dagenham kind-of-area. Three separate and fairly promising proposals to cross (under or over) the Thames here could solve the centuries-old problem of north-south access in this part of London. Watch out for firm proposals in 2017.
Now, Insider is the first to admit that some of these infrastructure plans are pretty long term. But property always works best as a long term investment. Plus, London property prices tend to begin their uplift as soon as a project starts work on the ground, even if completion is many years away. So if your aim is to invest in London – at an attractive price with good letting potential and prospects for capital appreciation – we think you’d be well advised to put these London locations on your watch list.