Property News · July 12, 2016

Only developers, estate agents and homeowners will cash in on Crossrail


By 2025, 60% of Londoners will be renters – they pay for Crossrail through taxes and fares but have nothing to gain from soaring rents and house pricesTo be launched in 2018, Crossrail is now not only an obsession for planners, engineers and architects, but is also being sold as a potential catalyst for much-needed housing investment and regeneration. Will the capital’s biggest infrastructure project, funded mainly by the public purse, help address its housing problems? The evidence suggests that, despite the praise, it may make them worse.London, according to a recent study by PricewaterhouseCoopers, will be a majority-renting city (60%) by 2025. This majority is paying for Crossrail (recently unveiled as the Elizabeth Line) through their taxes and, soon, their fares. They will be rewarded with higher rents and house prices. Continue reading…

Source : theguardian.com
Read more…Only developers, estate agents and homeowners will cash in on Crossrail

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