Houses in Abbey Wood and Woolwich are becoming hot real-estate as property prices soar.
The boom is likely due to the unfinished Elizabeth Line which is creating a huge pull-factor to the towns.
The data, collected by Rightmove, shows that Abbeywood experienced a staggering price increase of £73,790 between the 2016 and 2015 – a rise of 34.7 per cent.
In Woolwich, property values swelled by £35,306 – 10.9 per cent during that same period.
Miles Shipside of Rightmove said: “The increases are likely to be down to a number of factors, including the Elizabeth line, people looking for better value further out from the centre and London property proving to be an attract investment.”
The research is based on 2 bed properties for fair like-for-like increases at this level based on a 1km radius round each station and on properties for sale on Rightmove so far this year versus the same period last year.
The Elizabeth line, previously called Crossrail, was renamed in honour of the Queen.
The multi-million pound network will extend from Reading to Abbey Wood and Shenfield, Essex.
Let us know what you think of the Elizabeth Line and how it will affect you by emailing james.parsons@london.newsquest.co.uk
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