‘Nothing boosts the value of homes more than a vital transport upgrade.  Crossrail or the Elizabeth line has been a catalyst for regeneration and the new, fast rail route extending across London is an additional factor attracting home buyers and investors.  The new Crossrail station at Custom House is a game changer for the wider area as it sits right between two major regeneration districts: Canning Town and the Royal Docks.  From December 2018, the fast transport link will take residents of the Royal Docks to Canary Wharf in no time, and to the heart of the West End in just 15 minutes.  It will catapult these places into attractive destinations playing a key role in providing homes for Londoners.   The current transport network, covering the Royal Docks with Docklands Light Railway services is inadequate.  There is a buzz already about the Docks’ fantastic range of accommodation, world-class sports facilities and added attraction such as Siemens Crystal and the Emirates Air Line. Therefore, the Crossrail Custom House station can’t come soon enough.

Ten years ago, there was only a handful of new developments in the area that were worth tempting an investor with.  One had to be visionary to venture and invest anywhere around Custom House, including Canning Town and the Royal Docks.  The City Airport was there and the ExCel Exhibition Centre was the only modern landmark in a vast post-industrial landscape that was the Royal Docks.  There was just a cluster of new homes around the ExCel and across the water at the Britannia Village, most of which were overpriced and often with limited local amenities. 

Fast forward to today and the wider area surrounding the Royal Docks is brimming with new, smart apartment blocks and developments such as Hoola Towers, Waterside Park, Royal Wharf, Royal Gateway, Kingfisher Heights – to name a few.  House prices along the Crossrail route are outperforming already and had grown to an average of 7% higher than those in the neighbouring districts.  Higher earners from Canary Wharf looking for more space and value are moving into the area and the popular new home developments attract a record number of applicants with all four of our east London branches.

Inevitably, London has spread eastwards in a big push for new locations fit for a new generation of Londoners.  The Elizabeth line and the new Custom House station will connect the area with the heart of the city faster than ever before. Once trains are running there is going to be an increased demand from buyers and renters.  As the area matures and becomes more appealing the prices will rise. Furthermore, the Elizabeth line is crucial for the future the £1.7 billion investment which will see the Royal Albert Docks become London’s third business and financial district attracting investors and companies from Asia.  And the great news this summer is that the construction has officially begun on the ABP Business Park at Royal Albert Docks which has potential of creating 40,000 new jobs and new demand for housing in the area.’

For more details on buying, selling or renting in London's Royal Docks, contact our Canary Wharf office on:
T:  +44 (0)20 4515 1000
E: canarywharf@chaseevans.co.uk