Good article in the Gazette recently about West Drayton property prices, these are speculative but make for interesting reading.
With Crossrail starting to run through the area in 2019 we are starting to see construction progress in the area. There has been lots of property investment and more developments being built.
No wonder there is strong interest from the investment community which I explained in this article recently.
Locally Crossrail have put in a planning application for a glass and steel extension to the existing station, so Crossrail moves ever closer to West Drayton.
The real interest seems to be around the station and into the flats that are being developed. This makes sense as they will have wide buy to let appeal.
However if you are looking for capital gains over yields I think that roads with good looking late Victorian/Edwardian housing stock very close to the station will capitalise on Crossrail. These are nice family property with gardens and will appeal to affluent commuters families in time. It’s speculation of course but I think there are good arguments for increases here.
A friend told me he was thinking of selling his house in Furzeham Road and moving elsewhere for a change of scenery. I said to him I would wait, of course if you want to and that’s more important than the potential price increases then do it. Far be it from me to get in the way of your dreams, but you are right next door to one of the biggest changes in London this century. Your property is being brought closer to London and that amazing jobs market….
Other roads, in my opinion, set to do well are Warwick Road, Ferrers Avenue, Brandville Road, Bellclose Road and the nice property around Fray’s Avenue. This list is not exhaustive, for example there are also nice houses in Colham Avenue or Edgar Road for example like this one. In summary I am thinking that three and four bedroom houses which are well presented will achieve good returns as long as they have proximity to the station.
They will also rent very nicely as well! But yield will be lower than studio’s, one bed and two bed flats. It’s all about Capital Growth vs Yield and here you would trade rental income for expected capital appreciation and as ever property is a long term investment and prices of property do raise and fall with the market. But if you are invested at least if your property prices fall you retail property purchase price parity i.e you can buy other property which will have fallen in value as well (hopefully by more). Just don’t over mortgage!
