Buyers support the Chancellor's sentiment that 'small investments offer big wins'

In the latest Autumn Statement, Philip Hammond said that infrastructure is where "small investments can offer big wins" and, indeed, infrastructure projects such as the new Bakerloo Line extension are set to regenerate swathes of the capital – fuelling buyer demand in the process.

Easier access to parts of London previously not served by the tube system is likely to make areas along the new line, from Elephant & Castle to Lewisham, increasingly popular places to live.

The latest data shows that Borough, Elephant & Castle, and Peckham saw the highest increase in disposable income in the UK, as a surge of young professionals move in and they undergo rapid gentrification.*

These areas are seeing significant above-ground redevelopment too – with new housing developments springing up and more businesses such as shops, bars and restaurants likely to be attracted to open there.

Although this new part of the line is still several years off, interest in these areas appears set to pick up as forward-thinking buyers look to get ahead of the curve. 

This is a trend which is also evident in other areas of London such as Tottenham, which is benefitting from the planned “cycle superhighway” providing faster, safer access to the City. For example, the new Northumberland Park football stadium development which also comprises new homes, a hotel and sports centre is transforming the area. Additionally, the new Elizabeth Line (Crossrail), running from Reading and Heathrow in the west to Abbey Wood and Shenfield in the East, is also helping to transform previously-overlooked Woolwich, Southall, and Abbey Wood.

Stephen Ludlow, Chairman at ludlowthompson comments, “Going forward, parts of London that buyers may have discounted, either because there was no tube link or because they were in need of regeneration, are likely to become increasingly sought-after.

“Selling points like improved commuter access as well as other infrastructure investment going on in the local area have a massive impact on property demand – as we also expect to see in areas served by the new Night Tube”.

*Figures from an analysis of Gross Disposable Household Income by UHY Hacker Young