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Elizabeth Line Progress Revealed

Transport for London recently provided an update depicting a new test train for the Elizabeth Line and the new infrastructure at the Custom House station.

As it stands now, this summer Crossrail will present the finished infrastructure to Transport for London, which will lead the testing and commissioning phase before the railway opens to the public.

Elizabeth Line

There will be 41 stations in total on the Elizabeth Line, which will travel from Reading and Heathrow in the west to central London and finally Shenfield and Abbey Wood at the eastern end, a journey of over 60 miles. Once it is fully functional, the Elizabeth Line will carry an anticipated 200 million passengers a year.

The £14.8bn project’s delivery schedule has been revised after mounting costs and pressures related to schedule, along with added hassle caused by recent weather conditions.

The altered plans have been created as part of an overall effort to make sure that the Elizabeth Line opens in December as scheduled. Transport for London commissioner Mike Brown said that the new schedule sets the opening of the line in December 2018, with the full service being completed in December 2019.

Challenges that impeded progress have included works at Whitechapel station being completed later than planned and delayed progress at Woolwich station.

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Elizabeth Line and the impact on property values

New research has revealed that house prices along the Elizabeth Line have increased as the open date draws closer. The prospect of improved transport links has added thousands of pounds to property values. Average prices have climbed an estimated £182,727 since work began in May 2009.

According to the property website Zoopla, typical values are presently £522,192, compared to the national average of £298,863, representing a difference of 54%.

The research examined property prices in postcodes that have planned stops on the Elizabeth Line. The highest increases are in Tottenham Court Road and Bond Street in central London, where values have jumped by 66% since May 2009. Forest Gate was a close runner-up with prices increasing by 65%.

Other areas with growing market values include West Ealing, Hanwell and Woolwich in zones three and four. Stations with the lowest increases in property values include Twyford, Brentwood and Reading.

Zoopla representative Lawrence Hall said that with under two years to go until the Elizabeth Line is fully operational, its impact on property values is already obvious. Proximity to transport links is one of the essential requirements when people look to buy property.

While these increases are good news for current property owners along the line, for others it’s a reminder of how difficult it is to get on the property ladder. Even property markets at the line’s outer ends will become highly competitive as December 2018 draws closer, presenting challenges for aspiring homeowners.

The Elizabeth Line, which was named after the Queen, will open in 2018 and, after a series of stages, be completely open by December 2019.

Specialists in Construction Insurance

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