Expanding transport network boosts accessibility to central London for growing list of locations
- 23rd October 2017
- Buying Property News
Planned transport developments such as line extensions and new cycling Superhighways look to further reduce travel times into the heart of London
For years London’s world-renowned transport system of trains, tubes, buses, and Cycle Superhighways has provided Londoners with fast and efficient ways of getting around the capital.
While major developments discussed previously in this newsletter like Crossrail are well-known, relatively smaller improvements and changes can often go under the radar.
Areas that could soon benefit from improved transport links include South East London. TFL is currently running a consultation on the proposed Cycle Superhighway 4, which would run between Tower Bridge and Greenwich, via Canada Water across a commuter corridor where ludlowthompson has a network of offices in Lewisham, Dulwich, Canada Water, and Tower Hill.
To further investigate how important transport links are in the area for our customers, ludlowthompson recently ran a survey based around the proposed Cycle Superhighway 4. The results highlight interesting trends including how the proposed Cycle Superhighway makes nearly two-thirds (63%) of renters, property investors, and buyers more likely to consider areas along the route. (see full results below).
Across to the other side of the capital, Sutton and Wimbledon will also see improved transport links and access into and around central London. TFL has recently committed £70m to extend Tramlink’s network through Morden to Sutton. With the twenty-four hour Northern Line service terminating at Morden, there is now an increasing amount of accessible and affordable housing available to young professionals.
All of these developments and improvements mean further good news for prospective buyers, including young families and professionals alike, as transport times fall. This opens up more of outer London as suitable areas to live for those who commute into the capital.
Stephen Ludlow, Chairman at ludlowthompson, says: “Clearly, buyers should consider upcoming infrastructure plans in any area that they are thinking of purchasing. With London property prices under close scrutiny purchasers are looking beyond just market trends for value added characteristics and areas benefitting from investment in infrastructure certainly provide these opportunities."
“Existing links and planned developments will have an impact on buyers immediately, for things like commutes and school runs, as well as in the future. Forthcoming improvements will help boost the price of your property in the long run, and help not only first time buyers but also other individuals looking to transact and climb up the property ladder.”
Full results of the ludlowthompson survey (to landlords, renters, buyers, and sellers registered with our Canada Water office) on the proposed new Cycle Superhighway 4 from Bermondsey to Greenwich:
1. Does the proposed Cycle Superhighway from Bermondsey to Greenwich make you more likely to consider the areas along its route as an area to invest, buy, or rent in?
2. Do you expect it to make these areas more desirable?
3. Have you or do you currently use any of the Cycle Superhighways?
4. Do you think more Cycle Superhighways should be built in London?
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