Overground has positive effect on property prices
- 16th September 2014
- Selling Property News
Improved transport links are pushing up property prices in many areas especially in East and South-East London.
London’s Overground system is having a significant effect on boosting property prices in the area it covers.
The Overground is a network of four suburban rail routes run by Transport for London, two of which link areas both North and South of the Thames.
Prices of homes in close proximity to Overground stations are currently 31% above the capital’s average house price.
Areas close to Overground stations, such as Dalston and London Fields, have enjoyed huge growth in house prices since the system was introduced in 2007.
Stephen Ludlow, Chairman of ludlowthompson, explains: “The Overground system has provided a huge economic boost to these areas and property prices are one of the main beneficiaries.
“Young professionals are attracted to these areas by new transport links which have improved commutes into the City and have provided areas that have traditionally had poor transport infrastructure, such as Hackney, with greater access to the tube system.
“Investment has increased as more people have moved into these areas, improving amenities and leisure facilities, which, in turn, has provided a further boost to the property prices.
“Properties in these areas are in high demand leaving sellers in a strong position. Now may be a perfect time to cash in on their investment. Homeowners have an opportunity to make the most out of the strong rises in prices over the last couple of years.”
The Overground system has provided a huge economic boost to these areas and property prices are one of the main beneficiaries.
FREE & INSTANT PROPERTY VALUATION
IN JUST 60 SECONDS