Crossrail 2 is a new proposed north-south rail line connecting existing National Rail networks in Surrey and Hertfordshire, with trains running through new tunnels beneath central London. This is the second of three blogs on the impact of Crossrail 2 on the local property markets along the proposed route. The first blog which gives an overview of Crossrail 2 can be found at https://source.investments/crossrail-2-an-investment-opportunity/
The central core of the Crossrail 2 route is planned to run north from Clapham Junction to two termini at Seven Sisters and Tottenham Hale. To the south there are four branch lines which come in from Shepperton, Hampton Court, Chessington South and Epsom. To the north services will run over the existing rail network from Tottenham Hale whilst under discussion is a new link from Seven Sisters to New Southgate either via Wood Green or Turnpike Lane.
Proposed stations on the central core of the Crossrail 2 route are :-
Clapham Junction which has existing connections with the main rail network and London Overground;
Kings Road Chelsea;
Victoria (currently connected to the main rail network and London Underground);
Tottenham Court Road (currently connected to Crossrail 1 and London Underground);
Euston St Pancras (with connections to Crossrail 1, London Underground, High Speed 1 and the main rail network);
Angel (connecting to the London Underground)
Dalston (with connections to the London Underground);
Seven Sisters (connecting to the London Overground and Underground plus main line network) and
Tottenham Hale (will connections to the main rail network and London Underground).
All four southern branches of Crossrail 2 feed into Raynes Park (connected to the main rail network) and onto Wimbledon (the main rail network and London Underground); through to Clapham Junction either via Tooting Broadway (connected to London Underground) or via Balham (connected to both the main rail network and London Underground).
Branch one runs from Shepperton (London Underground) through Upper Halliford; Sunbury; Kempton Park; Hampton; Fulwell; Teddington (main line connections); Hampton Wick; Kingston (main line connections); Norbiton and then links up with Branch line two to go through New Malden (main line connections) and onto Raynes Park.
Branch two starts in Hampton Court and continues through Thames Ditton; Surbiton (main line connections) and Berrylands before linking with branch line one just before New Malden.
Branch three begins in Chessington South and proceeds through Chessington North; Tolworth; and Haldon Manor before linking with branch 4 just before Motspur Park (main line connections) and onto Raynes Park.
Branch four starts in Epsom (main line connections) and travels into London via Ewell West; Stoneleigh and Worcester Park before linking up with branch line three just before Motspur Park.
From Seven Sisters there will be a Crossrail 2 spur to Alexander Palace and New Southgate (both with main line connections) either via Turnpike Lane or Wood Green (both connected to London Underground).
From Tottenham Hale the route runs north through Northumberland Park; Angel Road; Ponders End; Brimsdown; Enfield Lock; Waltham Cross; Cheshunt (main line connections); Broxbourne (main line connections) and onwards via the existing national rail route.
Property Hotspots – London
Within the central part of the Crossrail 2 route the following areas are likely to see good growth and strong demand.
Battersea – the home of Clapham Junction station – is already in the middle of a huge regeneration. Two new stations are planned for startup by 2020 at Nine Elms (London’s biggest regeneration zone) and Battersea Power Station and in the longer-term the plan is to extend the Northern line to Clapham Junction.
Already popular with renters, investors and homebuyers, we expect that as a result of Crossrail 2 demand in Battersea will strengthen still further leading to increase in both property prices and rents.
Crossrail 2 will cut journey times into Victoria and Waterloo to around 5 minutes and also provide a route straight into central London itself. It is likely to spur further regeneration both around the station itself but also on surrounding areas where people currently commute into Vauxhall or Waterloo to change unto London Underground for onward travel to central London. Crossrail 2 will render such connections redundant.
Currently not top of the list for attractiveness, Tottenham Hale does attract first time buyers and renters through its affordability (with 1 bedroom properties costing about £300,000) and quick journey time into Central London (roughly 15 minutes to the City on the underground.
As one of the two northern termini on Crossrail 2 Tottenham Hale will have between 10 and 12 trains per hour in each direction operating directly to, and across, central London plus good onward links further north. As a result, the area is expected to undergo significant regeneration in addition to the work which is already underway. Currently there is a £110m investment being spent on a new underground, rail and bus station plus extensive road network improvements and public realm development which are expected to complete next year.
Property prices are expected to rise considerably.
Currently New Southgate is a residential suburb popular with families because of its green spaces and good schools.
The new Crossrail 2 station which is proposed will provide much faster journey times into central London and the West End and is likely to trigger regeneration in the area by providing the infrastructure needed to build new homes and create more jobs.
Once the decision is known whether Crossrail 2 will route through Balham or Tooting Broadway the chosen area is sure get a boost in terms of regeneration and property prices.
The new speedy service will significantly cut journey times into central London with a resulting increase in appeal to young professionals who want a quick commute and affordable housing compared to neighbouring Battersea and Clapham.
In our next blog we will consider those areas in the outlying parts of the Crossrail 2 route that are also likely to attract keen interest and where good investment opportunities may exists.
Our team of property experts have helped many new and existing landlords who are seeking to invest in buy to let residential property – please contact the team at https://source.investments/contact/