22
property market impact
Average house prices have already risen by 25% around Woolwich s future Crossrail station since 2008, with asking prices increasing by 18% in the year to August 2016 alone. JLL have touted Woolwich to be one of the city s biggest winners from Crossrail ranking it number one in terms of future price growth forecasts. Property prices in Woolwich are set to rise 39% between 2016 and 2020.
sales
For 71% of Londoners, transport links are the most important factor when choosing a rental property. Compared with the areas around all 40 of Crossrail s future stations, Woolwich is predicted to see the second-highest levels of average rental growth at 5-7% annually to 2020. Across London it is estimated that by 2025, 60% of the population will be living in rented accommodation. In Woolwich, demand for apartments is especially high, with over 70% of residents living in this type of dwelling.
rental
0
2016 2017 2018 2019 2020
1 beds 2 beds 3 beds
500
1,000
1,500
2,000
2,500
Source: home.co.uk
£ average woolwich rents and estimated growth
(as of August 2016)
100,000
Ja n
06
£
Ja n
08
Ja n
07
Ja n
09
Ja n
10
Ja n
11
Ja n
12
Ja n
13
Ja n
14
Ja n
15
Ja n
16
Ja n
17
Ja n
18
Ja n
19
Ja n
20
200,000
300,000
400,000
500,000
600,000
700,000
800,000
Greenwich Borough Woolwich Forecast future growth for Woolwich
Source: Land Registry and home.co.uk 0
average house prices 2006-2016