Crossrail losing its appeal among London homebuyers

Crossrail's appeal amongst homebuyers could be diminishing, according to new figures analysing the annual rate of growth across each postcode home to a Crossrail station and how their performance compares to the wider local authority in which they are located. The research shows that topline Crossrail house prices have climbed by 2.4% over the last year, marginally higher than the 1.9% increase seen across the wider local authorities home to a Crossrail station. The best performing Crossrail station over the last year has been Romford. Not only have house prices within the RM1 postcode increased by 14% year on year. In contrast, house prices within the E14 postcode, home to the Canary Wharf Crossrail station, have fallen by 17% in the last year, while Whitechapel’s E1 postcode has seen a 1% reduction. As a result, both Crossrail stations trail the wider borough of Tower Hamlets where the average house price has increased by 10% annually.
Property Reporter (04/07/2023)