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House Prices Soar As East London Line Opens Up 'isolated' Areas Of The Capital

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House prices along the newly opened East London line are soaring amid booming demand for homes in previously isolated parts of the capital.

Exclusive research for the Evening Standard today showed the value of properties in areas such as Haggerston, Shadwell, Wapping and New Cross have risen sharply over the past two years.

Estate agents along the route from Dalston in the north to Crystal Palace and West Croydon in the south have seen a flood of enquiries from workers looking for quick transport links into central London.

The overground route takes in the East End, Docklands and the suburbs of Brockley, Forest Hill and South Norwood, and about 220,000 people work within a 15-minute walk of an East London line station. Vast swathes of east London are also benefiting from regeneration before the London Olympics in 2012.

Tarik Shurdom, who runs estate agent Winkworth in Shoreditch, said: "We have had quite a few people coming in and specifically saying they want to find somewhere to buy on the East London line. It is proving very popular and has really complemented the development of the area. This has been going on for about two years."

More:

http://www.thisislondon.co.uk/standard/article-23869955-east-london-line-opens-up-isolated-areas-of-the-capital.do

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Replace

"Exclusive research for the Evening Standard today showed"

With

"Evening Standard editor, who is desperate to sell East London home before the Market crashes prays"

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fantastic news [if true] for east london based babyboomers. i'll make sure i give the area a very wide berth.

that east london rail line is nice, though... i got punched by a gang of yoots engaging in a spot of 'steaming' the last time i was there, well worth paying a pwoperdee premium for...

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Absolute rubbish !!!!

I've lived in East London for over 20 years and find the idea that Haggerston, Shadwell, Wapping etc are isolated, laughable.

yes - bizarre. I lived 5 mins from Shadwell for a few years (yes, it is a sh!thole) - its already on the east london line, as well as the DLR which gets you to the city or Canary wharf, plus its only a 15 minute walk to the city. Where can you get to now that you couldn't before? Norwood?

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East London = Shithole and can't believe people would choose to live there unless they had no choice;.

I think this sums up most of Greater London. A total dump! Boris Johnson (and Ken Livingstone before him) should be called Mayor of the City Of London for the stuff all they do for the surrounding boroughs, they are absolute shitepits. Stinking, dirty, urban shitepits.

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Absolute dumps. A lot like many parts of London, especially, SE. You have immigrants mixing with low class and educated whites. Nobody mixes. Crime is high.

No idea who wrote those descriptions but its laughable, reads like an estate agent press release. Here are mine:

Shadwell

Price: £353,916 (+13.3%).

Best roads: A 20-minute walk from Brick Lane. Great pubs include the George Tavern in Commercial Road. Watney Market provides great value shopping.

Why live there: One stop from Bank on the DLR and a short walk from Wapping.

Shadwell: absolute filthy dump. Guy got killed there when some local youths stopped him getting off the tracks. It's a lot like Bradford in terms of demographic. Classic of case of the multi-cultural experiment failure. Major embarrassment surely when execs hop on the DLR to/from Canary Wharf from the City and have to go through this dump.

Crystal Palace

Price: £257,688 (rise of 6.2% 2008-10).

Best roads: The Triangle — the area in and around Westow Hill, Westow Street and Church Road.

Why live there: Crystal Palace Park is one of the capital's most spectacular parks.

Who lives there: Kate Thornton and Nadia Sawalha.

Nothing redeeming. Fairly run down. Not as bad as some other areas.

New Cross/Gate

Price: £286,036 (+22.7%).

Best roads: Billington Road and Pepys Road for Victorian houses.

Why live there: Excellent if you are a Millwall fan. Good pubs include the Amersham Arms. “Outstanding” Haberdashers' Aske's Hatcham College.

Who lives there: Musician Steve Harley grew up here.

Even worse than Shadwell. Complete and total dump. Extremely rough area. Probably top 3 or 5 in London. Not far from Milwall.

Edited by rolf

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The paper is sloppy.

http://www.thisislondon.co.uk/money/article-23869136-rents-on-the-up-as-accidental-landlords-sell-off.do

The average cost of letting a home rose to £676 in July as landlords increased rents for the sixth consecutive month, research suggested today.

Would the author of this article please look up "letting" and "renting" in a dictionary.

- Simon Closs, Fontenay France, 20/08/2010 10:52

Poor landlords, they have to pay £676 to let their properties.

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classic example, thx! :) Note:

http://www.housepricecrash.co.uk/forum/index.php?showtopic=149761#

"If such a case were brought, it would raise questions about the responsibility of journalists who use supposedly impartial editorial space to promote commercial developments. It may be understood among journalists that the editorials of glossy property supplements follow a less rigorous code of impartiality than conventional journalism – they are essentially vehicles for advertising – but to the consumer such a distinction may not be so clear"

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yes - bizarre. I lived 5 mins from Shadwell for a few years (yes, it is a sh!thole) - its already on the east london line, as well as the DLR which gets you to the city or Canary wharf, plus its only a 15 minute walk to the city. Where can you get to now that you couldn't before? Norwood?

The heady heights of Whitechapel, and even Shoreditch, all cycling if not walking distance away:lol:

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I read a fascinating history of the tube called 'the subterranean railway'. I gave away my copy but from memory: The original East London line is very old - the Thames tunnel was built by Isambard Kingdom Brunel.

But the line was always a white elephant; it connected places that few people had any need to go, and failed to connect to any important transport hub or commercial centre.

I don't see that anything much has changed.

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I read a fascinating history of the tube called 'the subterranean railway'. I gave away my copy but from memory: The original East London line is very old - the Thames tunnel was built by Isambard Kingdom Brunel.

But the line was always a white elephant; it connected places that few people had any need to go, and failed to connect to any important transport hub or commercial centre.

I don't see that anything much has changed.

Yup and there is a Brunel museum `sarf` of the river at Bermondsey. The tunnel itself wasn't a financial success though a remarkable engineering achievement at the time. Apparently screw powered vessels in the Thames above could be heard from the tunnel!:o

But a very interesting old line and stations, and well worth a trip or visit if you into those kind of things. Have to say I haven't tried out the new trains yet, and it will probably have lost some of its charm since the upgrade.

Edited by Sir John Steed

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Tarik Shurdom, who runs estate agent Winkworth in Shoreditch, said: "We have had quite a few people coming in and specifically saying they want to find somewhere to buy on the East London line. It is proving very popular and has really complemented the development of the area. This has been going on for about two years."

'Turbo boost off' (can you tell I use Opera?) this translates to 'a few in the last two years'

Edited by Laura

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I don't think the research is worth paying much attention to, but some of the comments on this topic about the East London Line and many of the areas it serves are completely wide of the mark.

The East London Line is amazing - if you haven't tried it, you should. By far the best line in London now. Smooth, air conditioned, easily-accessible stations, great connections with the Jubilee, District and DLR, wide carriage so less crowding and great for bikes. For areas that were already served by the old line it's merely an improvement, for areas that it was extended to, it's transformative. I live in Brockley, it has great connections to London Bridge, but the East London Line has cut nearly all my journey times, massively increased frequency on the line and opened up new direct connections. Check out the feedback by users on this local blog:

East London Line verdict

And this is all before it gets extended to Highbury and Islington next year and joins up to Crossrail in 2016. Not to mention, the long-awaited Jubilee Line upgrade completion later this year...

As for the comments made about many of the stops, places like Hoxton, Shoreditch and Whitechapel are some of the most vibrant and exciting in London while neighbourhoods like Crystal Palace and Brockley are fantastic to live in and well worth a visit.

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I don't think the research is worth paying much attention to, but some of the comments on this topic about the East London Line and many of the areas it serves are completely wide of the mark.

The East London Line is amazing - if you haven't tried it, you should. By far the best line in London now. Smooth, air conditioned, easily-accessible stations, great connections with the Jubilee, District and DLR, wide carriage so less crowding and great for bikes. For areas that were already served by the old line it's merely an improvement, for areas that it was extended to, it's transformative. I live in Brockley, it has great connections to London Bridge, but the East London Line has cut nearly all my journey times, massively increased frequency on the line and opened up new direct connections. Check out the feedback by users on this local blog:

East London Line verdict

And this is all before it gets extended to Highbury and Islington next year and joins up to Crossrail in 2016. Not to mention, the long-awaited Jubilee Line upgrade completion later this year...

As for the comments made about many of the stops, places like Hoxton, Shoreditch and Whitechapel are some of the most vibrant and exciting in London while neighbourhoods like Crystal Palace and Brockley are fantastic to live in and well worth a visit.

Vibrant is London slang for shithole.

So Shadwell is only 20 minutes from Brick-Lane? Not far enough for my liking, Brick Lane is one of the most vibrant parts of London.

'But the curry houses there are fantastic' Yeah well, apparently there's oil in Afghanistan.

Anyway, why is no-one outraged that the taxpayer spends money on a railway, and the profits go to homeowners? Same with the olympics. It has to be propoganda, the iniquity is so obvious.

Edited by (Blizzard)

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Vibrant is London slang for shithole.

So Shadwell is only 20 minutes from Brick-Lane? Not far enough for my liking, Brick Lane is one of the most vibrant parts of London.

'But the curry houses there are fantastic' Yeah well, apparently there's oil in Afghanistan.

Anyway, why is no-one outraged that the taxpayer spends money on a railway, and the profits go to homeowners? Same with the olympics. It has to be propoganda, the iniquity is so obvious.

I appreciate that this forum is popular with people who think London is dreadful and so are all the people who live there. But no, it wasn't a code word, I can get off the train at Shoreditch and wander around Spitalfields market, check out the food markets and galleries of Brick Lane, go to amazing restaurants, kicking bars and enjoy historic streets. Columbia Road flower market and Hoxton Square an easy walk or hop back on the train. If I happened to work in or around Liverpool Street and the East of the Square Mile, it would be incredibly handy too.

Check out this review of Shoreditch by the ELL. Or don't. And stick to your prejudices.

Where do you live, out of interest?

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Dad's cousin bought her council house in Bethnal Green 1988 £60k , 2007 she said we went to bed one night in Bethnal Green and woke up in Shorditch Village . Sold it for just under £500,000

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I appreciate that this forum is popular with people who think London is dreadful and so are all the people who live there. But no, it wasn't a code word, I can get off the train at Shoreditch and wander around Spitalfields market, check out the food markets and galleries of Brick Lane, go to amazing restaurants, kicking bars and enjoy historic streets. Columbia Road flower market and Hoxton Square an easy walk or hop back on the train. If I happened to work in or around Liverpool Street and the East of the Square Mile, it would be incredibly handy too.

Check out this review of Shoreditch by the ELL. Or don't. And stick to your prejudices.

Where do you live, out of interest?

Seriously? West London, which I don't much like either. I'm in the London hating camp I'm afraid.

I used to think that people who liked East London were just pretentious twits who though there was something cool about being poor, or living in a crummy neighborhood. The East end I am asked to visit on occasion is really just a kind of poverty theme park.

Now I think maybe its just a fundamental personality distinction between those who do, and those who don't. Personally, I absolutely cannot see anything remotely good about, say, shoreditch. The food on Brick lane is pretty good, and some of the bars are ok, but the area is horrible. However, I have some good friends who totally disagree.

The really interesting thing about London, is that it illustrates the way that high house prices can produce poverty from wealth. London is a poor city. By comparison with the other areas of the UK I have lived in, even Knightsbridge and Kensington are nothing special. If you earn 80k in London, on paper you are pretty rich. In reality, you live in a two bedroom flat, use public transport to get to and from work, and live down the road from a council estate.

My former school teachers, for example, have cars, houses and gardens. They are richer.

Oh, and I have nothing against Salisbury, I've never been.

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Seriously? West London, which I don't much like either. I'm in the London hating camp I'm afraid.

I used to think that people who liked East London were just pretentious twits who though there was something cool about being poor, or living in a crummy neighborhood. The East end I am asked to visit on occasion is really just a kind of poverty theme park.

Now I think maybe its just a fundamental personality distinction between those who do, and those who don't. Personally, I absolutely cannot see anything remotely good about, say, shoreditch. The food on Brick lane is pretty good, and some of the bars are ok, but the area is horrible. However, I have some good friends who totally disagree.

The really interesting thing about London, is that it illustrates the way that high house prices can produce poverty from wealth. London is a poor city. By comparison with the other areas of the UK I have lived in, even Knightsbridge and Kensington are nothing special. If you earn 80k in London, on paper you are pretty rich. In reality, you live in a two bedroom flat, use public transport to get to and from work, and live down the road from a council estate.

My former school teachers, for example, have cars, houses and gardens. They are richer.

Oh, and I have nothing against Salisbury, I've never been.

I'd say London produces wealth from poverty. You're poor in many parts of the country and you have nothing. In London, the poorest of us still has access to amazing free parks, museums, galleries, public spaces where free events are constantly taking place, spectacular walks and amazing history. All of that is within easy reach by bike or by a public transport system (buses still v cheap) that puts the rest of the country to shame. And of course, a jobs market that is comparatively buoyant compared with most of the rest of the UK. A car? In London, you barely need one - a car is a burden, not a measure of wealth. A house and a garden? Move to SE London. Teacher friends of mine have both.

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  • 259 Brexit, House prices and Summer 2020

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      • down 5% +
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      • up 5%



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