The FT on Brockley and the East London Line

The FT today features a piece about the impact of the East London Line. It's essentially the same sort of thing we've seen before in the Standard.

For years, the far south-eastern reaches of London have been the last hope for young families looking for somewhere safe and pleasant to bring up children. Here, leafy streets, good schools and, most importantly, relatively low property prices have acted as a magnet for couples in their 20s and 30s looking to move from a flat into their first house. The main factor dissuading many has been poor public transport for those working in central London.

But the... East London Line... will transform working life for commuters from these predominantly residential areas and do wonders for property values.

Dr Steve Gibbons, of the London School of Economics, said: "Prices increase by about nine percentage points for each kilometre move towards a London Underground station or Docklands Light Railway station."

Here's what they say about Brockley specifically...

Brockley will be the first new stop travelling south on the line, which is due for completion in 2011 [sic]. With a collection of shops at its centre, it already caters largely to commuters with families. Its railway station has fast links to London Bridge station in the city centre. It has a large "conservation area" of 4,000 fine stucco houses protected from demolition or substantial redevelopment, making for an aesthetically pleasing environment. Its reasonable transport links mean it probably won't show the price growth of areas further south that will in effect come on to the London network for the first time, but it has good quality homes so should be a safe bet. Jonathan Keegan from the Rocodells estate agency in Brockley says: "The East London Line has had a good impact already. There was a real frenzy at the start of the year when the full details came out and prices have increased dramatically."

Average price for a three-bedroom house: £365,000.

The full article can be found here.