Wimbledon: Becoming One of London’s Top Places to Live
From the abundance amounts of open space to the birthplace of the worldwide prestigious event that is the Wimbledon Tennis Championships, Wimbledon is bursting with as much history as it is culture. Its endless choice of things to do matched with property investment opportunities & the potential new Crossrail line means that Wimbledon is proving to be a profitable investment in the future.
Investing in a home in Wimbledon can be extremely lucrative especially when the Tennis Championships take place. Some local residents rent out their house during the tournament (two-week period) and find rent prices can be anything from just under £1,000 to over £4,000 per week depending on a several factors.
Wimbledon is further becoming an investment hotspot with it sitting along the new proposed Crossrail 2 line, which will see dramatic yield increases in the coming years.
The average sold prices in Wimbledon have increase by 11.54% in the last year *foxtons
Average property price is 37.3% above the London average London average 601,354, Wimbledon’s average £825,788*
Major new review brings Crossrail 2 closer which will be good news for Wimbledon
The proposal for the Crossrail two is currently undergoing an independent financial review to examine how costs could be reduced further for this scheme (link to another article).
Wimbledon is one of the stations that will eventually lie on this route and benefit highly from this. A Crossrail 2 station at Wimbledon would provide an interchange with various National Rail services, London Trams and London Underground District line services. It would also reduce journey times and relieve pressure on central London rail termini, particularly Waterloo.
In addition, Wimbledon is a major employment hub with a busy town centre. Providing a Crossrail 2 station here would enable some significant new opportunities and potential for major redevelopment to the north and south.
What are the benefits of Crossrail 2 at Wimbledon?
Would add capacity to existing rail services and support economic growth by providing the infrastructure needed to build new homes and create more jobs across London and beyond.
• Improve your journey with up to 30 Crossrail 2 trains per hour to destinations including London, Hertfordshire and Surrey
• Provide an interchange between South West Mainline and suburban services, District line, London Trams and Thameslink services
• Reduce crowding on existing services
• Reduce crowding in the existing station thanks to a new larger entrance and interchange footbridge
• Reduce journey times for passengers in Wimbledon heading to the West End and further north
• Provide step-free access from street level to the Crossrail 2 platforms.
• Add station capacity allowing up to 3,000 more passengers to use the station in the peak hours
• Provide local people with access to more jobs within a 45-minute journey
• Support local businesses and economic growth by enabling more people to get to Wimbledon within a 45-minute journey
• Reduce the time taken to travel to Wimbledon, for example a journey to Tottenham Court Road would be reduced by approximately 15-20 minutes
• Increase the likelihood of obtaining a seat on services towards central London during the morning peak
Crossrail 2 at Wimbledon station secures this area for the future; learning from the catalytic impact Crossrail 1 has had on regeneration. Having even more connections beyond London including Surrey and Hertfordshire ensures that house prices will hold their value and increase with demand, buying a property in Wimbledon is an investment worth considering.