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Crossrail - Impact On House Prices

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As many will be aware the Government has announced that Crossrail will finally be going ahead - only 11 years (minimum) to wait!

What shocked me most though was a vox pop I read in the freebie London (Toilet) Paper newspaper this evening which asked three Londoners what they thought the benefits of Crossrail would be. You might think easier commutes, shorter journey times, less stress but you'd be wrong.

According to Steve Rafferty (a financial services worker from St Albans) - 'everyone will benefit from Crossrail and I really hope property prices rise as a result'

and according to Richard Hopkins a 25 year old Banker (should there be a w in there somewhere) from Clerkenwell 'It will be great for property prices'

I know it sounds awful but when I saw their selfish comments I started wishing that they would be one of the 6,000 people due to lose their jobs in the City over the next few months. Is the main reason we are going to invest £16bn of taxpayers money on a rail line is so that house prices will get a boost?

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more money wasted on London again - hopefully the place will be so rabbit holed that eventually it will collapse on itself

Don't you mean more of Londoners money wasted on London - London and the South east bankroll all those public sector jobs in the north, Wales and Scotland. Faster journey times will mean Londoners can spend more time at work, pay more taxes and generally keep people in places like Middlesbrough and Barnsley in the state funded lifestyles they have come to enjoy!

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Don't you mean more of Londoners money wasted on London - London and the South east bankroll all those public sector jobs in the north, Wales and Scotland. Faster journey times will mean Londoners can spend more time at work, pay more taxes and generally keep people in places like Middlesbrough and Barnsley in the state funded lifestyles they have come to enjoy!
Edited by Bearback

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It annoys me that they can find £16bn for another underground rail link in London but couldn't find a few hundred million for the metrolink in Manchester.

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As many will be aware the Government has announced that Crossrail will finally be going ahead - only 11 years (minimum) to wait!

What shocked me most though was a vox pop I read in the freebie London (Toilet) Paper newspaper this evening which asked three Londoners what they thought the benefits of Crossrail would be. You might think easier commutes, shorter journey times, less stress but you'd be wrong.

According to Steve Rafferty (a financial services worker from St Albans) - 'everyone will benefit from Crossrail and I really hope property prices rise as a result'

and according to Richard Hopkins a 25 year old Banker (should there be a w in there somewhere) from Clerkenwell 'It will be great for property prices'

I know it sounds awful but when I saw their selfish comments I started wishing that they would be one of the 6,000 people due to lose their jobs in the City over the next few months. Is the main reason we are going to invest £16bn of taxpayers money on a rail line is so that house prices will get a boost?

They said this about the CHunnel in '89, saying that it would boost local prices.

Infact, it lowered them, who wants to live next to a railwayline?

:lol:

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No wonder London is rich with all this money and investment thrown at them. When did my area get a big positive investment?

:lol:

If they didn't the financial sector would dry up pretty quickly - its mainly them who have been screaming for crossrail - and putting up a large amount of cash towards it. The country would then bankrupt even more quickly that On tick Brown can do on his own.

Besides, think of all the engineering jobs it will create - it will suck up engineers from all over the northern counties, noone down here does manual work any more. :P

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:lol:

If they didn't the financial sector would dry up pretty quickly - its mainly them who have been screaming for crossrail - and putting up a large amount of cash towards it. The country would then bankrupt even more quickly that On tick Brown can do on his own.

Besides, think of all the engineering jobs it will create - it will suck up engineers from all over the northern counties, noone down here does manual work any more. :P

But is the financial sector such a wonderful part of our economy? It is only important because we are slaves to our debts, and it was the financial sector who have encouraged us to get into this situation. We shouldnt be in this much debt anyway.

A good economy is one with good transport, good products and services at a good price, not an economy which provides us with a million and one ways of getting into debt.

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Don't you mean more of Londoners money wasted on London - London and the South east bankroll all those public sector jobs in the north, Wales and Scotland. Faster journey times will mean Londoners can spend more time at work, pay more taxes and generally keep people in places like Middlesbrough and Barnsley in the state funded lifestyles they have come to enjoy!

...why should London be the capital ..?...like Brazil, USA and Australia the capital and all it's Civil Service backup should be moved up or down country...redistribute the associated skills and jobs.....if any more people cram into the SE it will disappear into the Channel....get real .!...move away from the greed and avarice and leave them to focus on tourism and poisoned wraps.... :ph34r::ph34r::ph34r:

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Its the core driver of the 'knowledge economy'

Without it we are *^*ked frankly. Shame that it is so much easier to up sticks with people and a few simple offices - at least relative to moving factories and supply lines.

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Its the core driver of the 'knowledge economy'

Without it we are *^*ked frankly. Shame that it is so much easier to up sticks with people and a few simple offices - at least relative to moving factories and supply lines.

..are you referring to Crossrail or London...it's not clear...?... :unsure:

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and according to Richard Hopkins a 25 year old Banker (should there be a w in there somewhere) from Clerkenwell 'It will be great for property prices'

What is a banker, does the term mean anyone who works in a bank or is a specific role that describes a particular function.

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What is a banker, does the term mean anyone who works in a bank or is a specific role that describes a particular function.

..he is someone who holds the deck of cards and dishes them out "the wheeler dealer"... beware..!......the banker always wins unless your name is Bond..James Bond.... :lol::lol::lol::P

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Don't you mean more of Londoners money wasted on London - London and the South east bankroll all those public sector jobs in the north, Wales and Scotland.

This presumes that growth would not have been greater had it not been more balanced.

The other issue is that the concentration of growth in the South East has pushed property prices up there very quickly, with a ripple effect out to the rest of the country via a combination of sentiment and money supply growth. This is what may result in the mortgage debt hangover, whereas more balanced growth might have led to more modest HPI and a more balanced situation for the UK.

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This presumes that growth would not have been greater had it not been more balanced.

The other issue is that the concentration of growth in the South East has pushed property prices up there very quickly, with a ripple effect out to the rest of the country via a combination of sentiment and money supply growth. This is what may result in the mortgage debt hangover, whereas more balanced growth might have led to more modest HPI and a more balanced situation for the UK.

....agreed ...we all know about the 'South Sea Bubble' .....what we have today is the 'South East Bubble'.. :ph34r::ph34r::ph34r:

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The concentration in london and the south east is a problem they would have been better investing 16billion in the midlands or north of country and trying to provide wealth for those areas. If london was wiped of the earth tommorow this country has nothing to fall back on.

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Serfs should be seen and not heard <_<

http://www.countrylife.co.uk/news/property...n_hotspots.html

The announcement that Crossrail has been given the green light in London should produce some new areas in London where values will rise considerably

Friday, 05 October 2007

Holly Kirkwood

Gordon Brown's announcement that Crossrail, the long-awaited link between East and West London is to go ahead, has implications for the property market in London, Knight Frank has said today.

The agent said the new rail line, which will run from Maidenhead in the West through to Abbey Wood in the East, will have implications for the property market, particularly where new stations cut the journey time into London from both directions. Hartley Barnes, associate for Knight Frank residential development, said: 'Crossrail is just what London needs. It will pull part of London's transport system into the 21st Century by bringing our infrastructure in line with other global cities; as well as creating more jobs and relieving many commuters and visitors to the city, it will significantly have a positive impact on the housing market.

'Areas which were once dismissed by a proportion of potential purchasers due to poor connectivity will turn into areas which become more desirable.'

The areas which are most likely to increase in value are Abbey Wood, Stratford, West Drayton, Hayes, Southall and Hanwell, all of which will experience regeneration and increased house prices as a result of reduced journey times into London.

Liam Bailey from Knight Frank added: 'While local areas and more distant locations such as Essex are set to benefit, the real impact of the arrival of Crossrail will be the underpinning of London's presence as the global financial centre. Improved infrastructure is key if we are to truly gain a foothold as the financial capital of the world.'

5_crossrail-train.jpg

Edited by notanewmember

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