‘Crossrail Effect’ Adds Steam to London Home Prices

LONDON — London’s brisk property market shows no sign of slowing down, yet the speed of transactions may increase further as one of the most ambitious transportation projects undertaken in Britain takes shape across the capital.

Crossrail is a new rail line that at a cost of 15 billion pounds, or about $23 billion, will link the city from east to west and connect to several suburban towns. Opening in 2018, it is expected to significantly cut travel times within the areas it serves, and locations with Crossrail stations are attracting serious interest from home buyers and investors.

The route will run from the town of Reading in the county of Berkshire, 40 miles west of London, and cut directly across the city center, via Paddington, Bond Street, Tottenham Court Road, Farringdon and Liverpool Street stations. The eastern section will branch off in two directions: east to Shenfield, 21 miles away, in the county of Essex, and southeast to Canary Wharf and the London borough of Woolwich. There will also be a spur from the western section to Heathrow Airport.

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