Crossrail officially launched on Tuesday morning, with the first Crossrail passengers taking the first trains from Abbey Wood to Paddington at 6.30 am. After months of testing, the Crossrail project welcomed its first passengers. The high-speed transport link will link the capital’s outer western edges with the outer east. The Elizabeth Line will initially operate in three sections: the western section between Reading and Heathrow, Paddington and Paddington, and the central section between Paddington Wood and Abbey Wood. Follow all the latest news from the launch of this line here
The Crossrail effect: Property prices rise along the Elizabeth line
London commuters will be able to experience the Elizabeth Line for the first time this year. Exclusive research by Savills shows that the western section, Reading to Bond Street, of the Elizabeth Line shows how property prices have steadily risen well before the high speed line is due for completion.
TfLReadingAverage price November 2017: ?300,617 Average price November 2015: ?235,899 Average price November 2010: ?211,896Seven-year change: 41.9%Two-year change: 27.4%Alamy Stock PhotoTwyfordAverage price November 2017: ?477,528 Average price November 2015: ?315,922 Average price November 2010: ?315,922Seven-year change: 51.2%Two-year change: 36.5%Alamy Stock PhotoMaidenheadAverage price November 2017: ?405,202 Average price November 2015: ?344,133Average price November 2010: ?252,864Seven-year change: 60.2%Two-year change: 17.7%Alamy Stock PhotoTaplowAverage price November 2017: ?456,038 Average price November 2015: ?359,954 Average price November 2010: ?234,240Seven-year change: 94.7%Two-year change: 26.7%Cliveden HouseBurnhamAverage price November 2017: ?336,182 Average price November 2015: ?261,957 Average price November 2010: ?188.985Seven-year change: 77.9%Two-year change: 28.3%Alamy Stock PhotoSloughAverage price November 2017: ?264,283 Average price November 2015: ?214,254 Average price November 2010: ?181,393Seven-year change: 45.7%Two-year change: 23.4%Alamy Stock PhotoLangleyAverage price November 2017: ?360,430 Average price November 2015: ?254,896 Average price November 2010: ?208,869Seven-year change: 72.6%Two-year change: 41.4%Alamy Stock PhotoIverAverage price November 2017: ?701,263 Average price November 2015: ?557,514 Average price November 2010: ?505,893Seven-year change: 38.6%Two-year change: 25.8%Pinewood StudiosWest DraytonAverage price November 2017: ?349,361 Average price November 2015: ?288,875 Average price November 2010: ?204,889Seven-year change: 70.5%Two-year change: 20.9%CrossrailHayes and HarlingtonAverage price November 2017: ?334,783 Average price November 2015: ?289,929 Average price November 2010: ?202,752Seven-year change: 65.1%Two-year change: 15.5%CrossrailSouthallAverage price November 2017: ?324,072 Average price November 2015: ?262,777 Average price November 2010: ?218,845Seven-year change: 48.1%Two-year change: 23.3%Alamy Stock PhotoHanwellAverage price November 2017: ?509,304 Average price November 2015: ?494,681 Average price November 2010: 305,765xSeven-year change: 66.6%Two-year change: 3.0%Alamy Stock PhotoWest EalingAverage price November 2017: ?709,708 Average price November 2015: ?605,389 Average price November 2010: ?418,264Seven-year change: 69.7%Two-year change: 17.2%CrossrailEaling BroadwayAverage price November 2017: ?728,447 Average price November 2015: ?640,404 Average price November 2010: ?464,105Seven-year change: 57.0%Two-year change: 13.7%CrossrailActonAverage price November 2017: ?697,309 Average price November 2015: ?583,291 Average price November 2010: ?383,134Seven-year change: 82.0%Two-year change: 19.5%Alamy Stock PhotoPaddingtonAverage price November 2017: ?1,300,802 Average price November 2015: ?1,121,944Average price November 2010: ?732,145Seven-year change: 77.7%Two-year change: 15.9%Alamy Stock PhotoBond StreetAverage price November 2017: ?3,115,361 Average price November 2015: ?2,404,549 Average price November 2010: ?1,171,561Seven-year change: 165.9%Two-year change: 29.6%CrossrailThe full line will eventually enable passengers to travel from Reading and Heathrow through central London to Shenfield or Abbey Wood without needing to change trains. The final version for the entire line will be available by May 2023. The Elizabeth line is now officially known as the train route. The Elizabeth line is officially known as the service. Crossrail funding delays and costs. The original funding for Crossrail was?14.6 million in 2010. This was increased to?17.6 million in 2018. Three months prior to the 2018 opening ceremony, the first delay was announced. The latest of these stated that the central section would open by June 2022. TfL moved this to May 24, just in time for The Queen’s Platinum Jubilee bank holiday. The total agreed funding now stands at?18.8billion. TfL has permission for TfL to spend an additional?1.1 billion to get Crossrail in full service. However, TfL estimates that Crossrail will lose a total of?1 billion due to the pandemic. The London Assembly is also seeking assurances that TfL will be able to finance the remaining project in the event of Omicron causing delays. Opening dates and key journey timesThe central section launched on May 24. The rest of the sections will open in the fall. Central Section: To launch in MayTrains will depart from Paddington’s Elizabeth line station and travel through Abbey Wood. This route passes through major employment hubs like Liverpool Street and Canary Wharf. Examples of journey times: Paddington to Canary Wharf takes 17 minutesBond Street and Liverpool Street take seven minutesWoolwich and Farringdon take 14 minutes. The east section will open later. The East section: This section is expected to open in autumn 2022. It will run from Liverpool Street mainline station in London to Shenfield in Essex, passing through eastern regions such as Romford and Stratford. Example journey times: Romford-to-Livingstone Street will take 27 minutes. Bond Street to Bond Street will take fifteen minutes. West section: This route is expected to launch in Autumn 2022. It will start at Paddington mainline station and split just after Hayes & Harlington. One branch will go to Reading and Maidenhead, while the other will go to Heathrow airport terminals. Example journey times: Tottenham Court Road to Ealing Broadway will take 13 minutesPaddington to Slough will take 26 minutesHear more on this episode of the Leader podcast:Loading….You can also find us on your Spotify Daily Drive or wherever you stream your podcasts.
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