Chadwell Heath estate agents predict market boost as rail link works continue
Estate agents were in high spirits today as a new Crossrail report forecast property values could shoot up by a fifth when the rail link opens in 2017.
Crossrail, the multi-million pound railway, will link Chadwell Heath and Stratford stations with up to 12 trains an hour and then stops in central London the following year.
The London property market could receive a �5.5billion boost and prices soar by 20 per cent around Chadwell Heath Station, according to new report by the GVA property consultants.
James Filtness, 27, is the branch manager of Douglas Allen estate agents in the High Road, Chadwell Heath, near the station in Station Road.
He said: “Twenty per cent would be good. I can see it happen, but it’s five years away.
“I think it will help the property market. More people should want to buy in Chadwell Heath. It should push prices up.”
Reegan Parmenter, the manager of Spicer McColl estate agents in the High Road, indicated the rail link may create a property market buzz in the lead-up to the launch of the rail link.
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She said: “If it can make things a bit more steady, that will be good. It’s going to be a big boost if it’s going to increase prices on the property market.”
Barking and Dagenham Chamber of Commerce also welcomed the economic benefits the Crossrail station could bring to Barking and Dagenham communities.
Chamber president Lloyd Johnson, 36, said: “I think it’s a fantastic boost to the economy.
“The transport link is fantastic. I want to make sure we prepare the people around the station for what could be an influx of business.”
A Barking and Dagenham Council spokesman said: “The council agrees that the implementation of Crossrail will have a positive economic impact on areas within a reasonable walking distance to Chadwell Heath Station when the service start. This is likely to lead in an increase in house prices in the area.”