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Five of the best Crossrail locations for tenants

Posted on 2016-07-22

If you're a tenant in London, chances are you've heard about Crossrail, the new railway which will start operating from 2017.

It's been a long time coming, but the Elizabeth Line will soon be ferrying passengers around London, saving valuable time and getting them to places they couldn’t get to directly before.

When fully in operation, Crossrail will incorporate 40 stations (10 of which will be new), and will run over 100km from Shenfield and Abbey Wood in the east of the capital, through Central London, and all the way to Reading and Heathrow in the west.

There have already been numerous reports suggesting that certain Crossrail locations have already benefitted from house price growth and a general feel good factor, which will surely improve further as we move closer to completion date.

Therefore, tenants who want to benefit from the improved transport links Crossrail brings will need to start thinking about moving to their chosen areas in the next year or so before demand potentially sky-rockets.

With this in mind, we've taken a look at five of the Crossrail locations which remain affordable for tenants – when compared to other areas of London - but look set to really go from strength to strength once the new line becomes fully operational.

Abbey Wood, Greenwich

Abbey Wood is a south east London location which has slowly been appearing on more and more lists of 'up and coming areas'.

Its proximity to Central London makes Abbey Wood an ideal location for commuting tenants. And as the buzz of Crossrail takes hold, it's likely a plethora of gastropubs, cafés and artisan bakeries will start popping up here.

Rents and property

The current average asking rent for a property in Abbey Wood is between £1,100 pcm and £1,400 pcm, according to Zoopla. This drops to near the £500 mark for a one-bedroom house, and between £600 and £700 for a one-bedroom flat.

Two and three-bedroom properties, meanwhile, are likely to set you back between £1,150 - £1,350 per month.

How will Crossrail benefit the area?

According to Crossrail itself, this area will benefit from one of the largest transformations when the Elizabeth Line comes into action. A new station's being built, aiming to be more accessible to passengers as well as pleasing on the eye.

From 2018, passengers will be able to take a Crossrail service to Central London every five minutes during peak time. The following year, the service will run all the way west to Heathrow and Reading.

What's more, people travelling from Abbey Wood to Central London via Crossrail will benefit from halved journey times and an extra 12 trains per hour.

Slough

Slough is no longer known as just a business district and the location for Ricky Gervais' The Office. Its reputation has been boosted in recent years thanks to high levels of investment and lots of new homes.

The town is leafier than many people give it credit for and, thanks to Crossrail, it'll not only be easy to get to Reading but also Central London.

Rents and property

The overall average asking rent in Slough is currently just over the £1,000 per month mark. Some of the cheapest properties for tenants in the area are likely to be one-bedroom houses, with an average rent of somewhere between £700 pcm and £800 pcm.

Meanwhile, a two-bedroom flat's likely to set tenants back a total rent of approximately £1,100 per month.

How will Crossrail benefit the area?

A huge benefit of the introduction of the Elizabeth Line in Slough is that, from December 2019, passengers will be able to choose from four trains every hour, going right through to Central London without having to change services.

Crossrail's introduction will cut the majority of journey times from Slough into London by around 10 minutes.

West Drayton, Hillingdon

This suburban town's one of the areas being touted as a fantastic investment opportunity thanks to Crossrail. The interest from buy-to-let investors means there's likely to be quality rental property stock and lots of it.

Not only will tenants benefit from the new routes into London, but West Drayton is very close to Hillingdon Hospital – one of the largest employers in the area.

There's plenty of space for development in this part of Hillingdon, which means that lots of purpose-built apartments are likely to spring up here in the next few years.

Rents and property

West Drayton remains a relatively affordable area for tenants who are happy to live just outside the capital. The average monthly rent in the area's currently around the £1,200 - £1,400 mark.

For a one-bedroom property, this dips to between £800 and £900. Three-bedrooms properties are likely to come in at a total rent of just over £1,500 per month.

How will Crossrail benefit the area?

West Drayton's one of the stations which will benefit from major improvements thanks to Crossrail.

Commuters and tenants will have the choice of up to six Elizabeth Line services through to Central London each hour from December 2019.

Keen shoppers will be delighted to hear that the journey from West Drayton to Bond Street will be almost halved, from 44 minutes to 23 minutes when Crossrail's introduced.

Moreover, the journey time to Canary Wharf will also see a hefty reduction from 59 minutes to 37 minutes.

Romford

This Essex hotspot's already an extremely desirable place for tenants to set up home. Its fantastic shopping facilities and buzzing night-life will soon be complemented by even better links into the capital.

The town centre's also set for regeneration, something which – combined with Crossrail – is likely to make Romford one of the east's most sought-after rental locations by 2019.

Rents and property

One-bed properties in Romford are still a relatively cheap option for London tenants, averaging from between £800 - £1,000 per month.

The typical three-bedroom property in the area's likely to cost around the £1,400 mark each month. This may sound a lot, but, when shared between three to four tenants, is actually quite an appealing price.

How will Crossrail benefit the area?

As well as benefitting from Crossrail's first trains in May 2017, Romford Station is set to be given a substantially improved ticket hall and platform extensions.

Romford tenants will be able to get to Central London on the Elizabeth Line, without changing trains, from December 2019.

Currently, it takes 56 minutes to get to Paddington from Romford. On Crossrail, this journey will take just 37 minutes.

Manor Park, Newham

Manor Park, situated in the London Borough of Newham, was a beneficiary of the London Olympics in 2012 and soon the area will receive a further boost from the presence of Crossrail.

The district's so close to some of London's trendiest and exciting areas that it's always been popular with young professionals and tenants – something which doesn't look to be changing any time soon.

Rents and property

Considering it's so close to Stratford and the rest of East London, Manor Park can certainly still be classed as an affordable location for tenants.

Interestingly, the average asking rent for a one-bedroom house in the area is between £500 pcm and £600 pcm, compared to over £1,000 for a one-bedroom flat.

Two and three-bedroom houses in Manor Park can also represent good value for money, ranging – on average – from between £1,200 and £1,300.

How will Crossrail benefit the area?

From May 2017, Manor Park residents will benefit from being able to use the first Elizabeth Line trains, which will operate between Shenfield and Liverpool Street.

By December 2019, passengers will be able to travel from Manor Park right through to Central London without having to switch trains.

Manor Park will benefit from a number of reduced journey times once Crossrail's fully operational. Notably, it'll take just 14 minutes to get to Canary Wharf (currently 25) and just 25 minutes to get to Paddington (currently 41).

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