Crossrail 2 causes rental increases of up to 25%

Ryan Bembridge

March 9, 2017

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.

Record number of London tenants left the capital last year

“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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  • P Riddy

    Crossrail 2 has not yet been implemented. Rentals are rising presently because London Overground took over the West Anglia route to Cheshunt via Seven Sisters, May 2015, putting this part of London onto the Central London Tube Map for the first time, which is a huge marketing boost for the area. New trains are on order and the 2018 timetable will see an extra 2 trains per hour all day.

    Thus, the impact of Crossrail 2 is yet to be seen. Nobody is moving to rent property in the area on the basis of an unfunded rail link that possibly opens in 2033.