We believe that there is a strong investment case for Acton, in the London borough of Ealing.
This is underpinned by three main factors:
- Acton Crossrail Station is set to open in 2019. Crossrail is currently Europe’s largest infrastructure project, and JLL has forecast +48% capital growth within a 750m radius of Acton station through to the end of 2020.
- Acton is extremely well connected being on the Central, Piccadilly and District Underground lines, as well as London Overground and National Rail. It is also close to the A40, which gives access to central London, Oxford and the Midlands. This is in addition to the fact that the area will soon be a Crossrail location and, potentially, home to an HS2 terminal if plans are agreed.
- Acton benefits from its proximity to local amenities, including Westfield London (one of Europe’s largest shopping centres), Imperial College, and a Hammersmith Hospital, which is a major employment hub in the area.
Crossrail is Europe’s largest construction project, stretching across 40 stations in and around London. The line brings an extra 1.5 million people within 45 minutes of central London, dramatically reducing commuting times to key areas such as Canary Wharf, Paddington and Liverpool Street.
JLL, in their report on Crossrail investment opportunities, forecast that properties located 750m from Acton Main Line station will experience +48% capital growth, from the end of 2014 through to the end of 2020. Once completed, the journey from Acton station to Bond Street in the West End will be reduced to just 9 minutes and the journey to the financial district in Canary Wharf to just 23 minutes.
Acton station will start running Crossrail services from 2019 and the reduction in journey times is expected to have a significant impact on local GDP, placing upward pressure on capital values and rent.
The truth of the matter is that London cannot house its growing population. It’s growing at 40,000 households a year while the housing stock has grown by no more than 25,000 a year at any point over the past 30 years. This data comes from Boris Johnson’s draft London Housing Strategy for 2014.
People are moving further out as transport links improve, and central London becomes more expensive and crowded. Acton is well connected, with easy access to trendy areas such as Ealing, Notting Hill, Chiswick and central London. It should continue to be attractive to wealthy professionals looking for more space than they could achieve in central London.
Acton is also located near the A40, which gives access to central London, Oxford and Wales. The A40 also links up with to the M25 and North Circular providing direct access to the rest of London.
Acton benefits from its proximity to local amenities, including Westfield London (one of Europe’s largest shopping centres), Imperial College, and a Hammersmith Hospital, which is a major employment hub, whose employees should provide strong rental demand. Hammersmith Hospital is easily reachable from the Crossrail station.
Acton should also continue to be attractive to wealthy professionals looking for more space than they could obtain in central London. The growth in demand from increasing numbers of commuters and a growing local economy are combined forces that continue to drive capital and rental values up in areas like Acton.