Cross Rail buying a house that will increase in value

Looking to purchase a house  / flat in an area that is likely to see a decent increase in value over the next 3 years.

We are looking at places on the Cross Rail / Elizabeth Line and looking more towards west London. Is there still potential for growth in these areas once CrossRail arrives or are these already reflected in the prices?

We have visited various areas a few times and the towns just look like building sites with masses of new developments, although there doesn't seem to be much to do.

New 2 bed flat (zone 6 /5/) is around £420k to £440k mark  

The Cross Rail effect influenced prices about 5 years ago so you're way too late.  If you want to take advantage of these things you need to be buying as the first spade goes in the ground.  I'm hoping to take advantage of Cross Rail 2 despite work not starting until 2032 if it ever does.

If anything I expect Crossrail 2 areas to fall of in price/fail to rise as fast as other areas as the frenzy of anticipation that has  pushed prices higher in the relevant areas is greater than the advantages of the reality warrant (especially if the bloody thing never opens).

What Guy said.  There are some nasty price falls coming in some of those areas I reckon. Particularly some of the absolute sh1teholes out east that got massive bumps (pre brexit) from crossrail.

"Particularly some of the absolute sh1teholes out east that got massive bumps (pre brexit) from crossrail."

 

\ :) / wooooooooo

 

The sodding thing just needs to open

 

 

 

I find it utterly bizarre that anyone would even consider buying a property, especially a flat, in central London right now.

I keep talking to people who think the bounce back has started.

Anything else you are looking for? A casino roulette table that comes up with 0 every 5th spin? The winner of next year's Grand National? When the hostile takeover of RBS by Goldman Sachs in competition with Barclays will start? 

Is this an investment or somewhere to live?

Old Oak Common area is interesting as it will be a Crossrail / HS2 interchange.  It still has purchasing potential only because HS2 may still be halted. Investments with high rate of return always involve risk.

It would be somewhere to live with the **hope** that value increases enough to enable a move to somewhere nicer.

I'm currently betting on Norwood as a development opportunity.  Pretty grim currently but it's included in the next phase of the Croydon regeneration plan and gentrification is also spreading from Streatham.  Basically you need to look at the map for the areas you've never heard of then do some research.

"Croydon regeneration plan"

Presumably they are just copying the Hiroshima regeneration plan?