Crossrail 2 causes rental increases of up to 25%

Ryan Bembridge

March 9, 2017

crossrail

The Crossrail 2 development has caused rental prices to rise by up to 25% thanks to the improved transport links into London, according to research by Landbay.

Broxbourne, the most northern point of the line, has seen the biggest rental increases (25%) whilst other areas such as Shepperton and Enfield Lock have been rises of 14% and 13.5% respectively.

John Goodall, chief executive and founder of Landbay, said: “Along with the shortened journey times between these cities, there is a significant economic case for improving the movement of people both between and around our major cities.

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“People now spend over half of their take-home pay on rent each month, and one of the best ways of alleviating this pressure is to improve transport infrastructure, thereby spreading populations over a larger surface area.”

This comes after the Chancellor’s pledge for a £690m competition for local authorities to improve local transport networks in his Spring Budget yesterday, in the hope of improving Britain’s transport infrastructure.

The current Crossrail 2 route was approved in March 2016 and has six termini, with the first trains on the line expected in 2033.

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