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.