The East London Line effect on house prices

The FT has revisited the question of what effect the East London Line has had on house prices along its route, with Brockley one of six destinations chosen as case studies.

The paper says:

The route runs from Dalston, south-eastwards through the East End, the financial village of Docklands and into the pleasant but unexciting suburbs of Brockley, Forest Hill, South Norwood and Crystal Palace to terminate in gentrifying Croydon.

It compares prices within half a mile of each station with the national average, over 12 months (+4.3%) and 24 months (+10.2%) to see what effect the property price crash had locally.

Brockley gets the following verdict:

Of the places newly linked to the Tube system, Brockley probably had the best existing mainline train links and already had a substantial commuter population who prized the opportunity to live in a decent-sized house but still get to work in less than an hour. Jonathan Keegan from Rocodells estate agency in Brockley says: “There was a lot of hype when work began on the line and property prices increased. Of course things got a lot tougher soon after that but there has been more optimism again recently. Transport is a big factor when people are looking at where to buy so people have been buying in the hope that there’s still potential for growth when the line is fully operational.”

Average price, £278,000; change in one year, +8.3 per cent; change in two years, -6 per cent.

Click here to see how Brockley compares with Crystal Palace, Dalston, South Norwood, Croydon and Peckham.

15 comments:

Hugh said...

Might be selling this year, finally. Will be rather sorry to leave the place. I don't think it's possible to find affortable Victorian conservation area property anywhere else in London that offers train access to London Bridge in 7 minutes or Cannon Street in 12, or to Canary Wharf by DLR in about the same time.

Monkeyboy said...

This is a bit like one of those Hollywood crowd pleasers. The sarcastic old grump reveals his cuddly side.

Be sad to see a fellow hardcore atheist leave, I'll pray to the sky poodle for a change in heart.

Anonymous said...

Not a good news as i would have expected. Nationally it's well under par.

Anonymous said...

Great news for first time buyers. Great news indeed.

Hugh said...

I'm always bemused by these curt, semi-literate and only partially intelligible comments by people clearly too busy to type their name, Anon. Hope you meet that deadline.

Hugh said...

(That was to the first Anon.)

Anonymous said...

It's probably your age.

Mostly harmless said...

Damned with faint praise - 'pleasant but unexciting'....

Mb said...

Phew, hughs back. Thought we'd lost you wee man.

Anonymous said...

Unexciting?

How many shootings a month those it take a month for an area to become exciting?

Anonymous said...

peckham isn't even on the ELL yet. the rises in house price are probably related to proximity to east dulwich and the investment by southwark in regenerating the area.

i guess we will wait to see what the full impact of the ELL has on house prices,improving transport experience and quality of life and bringing business to these areas.

probably being stupid said...

I'm probably being stupid but I don't really understand what this article is saying... Can it really be true that in the last two years, the national average for house prices has risen by 10.2 per cent, but that all the areas they mention have fallen in value, e.g. Brockley down by 6 percent over last 24 months. That doesn't seem to tally with what I've seen?

Osh said...

anon the effect on house prices happens way before the line comes in to operation

qbf said...

It's a rare week when there's so much else going on that a thread on house prices fails to excite interest!

Cash For Houses said...

Listing information indicates Billie Joe Armstrong's abode, located in the Upper Rockridge neighborhood, was built on the former grounds of a lavish.

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