8 Things Heathrow Expansion Could Mean For The Property MarketAnalysis, Background
Whether you’re for or against it, there’s no doubt that Heathrow expansion will change the local, London and probably the entire UK property markets for ever. Here are just eight things the expansion could mean for the property market ….
* 70,800 new jobs in the area, leading to huge demand for homes to buy and rent, and a likely rise in local prices and rents.
* 750 homes lost from the local property market due to demolition.
* 70,800 new homes needed in the area to cope with extra demand.
* A new western rail link and faster rail service from Heathrow to Slough, Reading, the west and South Wales.
* A new southern rail link enabling train services from Heathrow to Waterloo, the south coast and maybe even to link up with HS2 to Birmingham, Manchester and Leeds.
* Vast tracts of land needed for vast commercial developments, including offices, warehousing, car parks and 20 new hotels.
* An 85% rise in commercial property values in the area (Lambert Hampton Smith report).
* Construction hubs located in areas around the UK, including as far away as Scotland, leading to extra investment and jobs there.