New research showing the house price benefit from Crossrail across residential markets in Central London has been produced by Jones Lang La Salle (JLL).

The research shows that the potential impact on property values due to Crossrail is spread unevenly, with areas around stations in the west of London seeing a lower price impact than Tottenham Court Road, Farringdon and Canary Wharf, where JLL claim that mainstream prices are expected to grow by 40% between now and when trains begin running in 2018.

Adam Challis, Head of Residential Research at Jones Lang LaSalle explains "Some local residential markets will see a greater benefit from Crossrail. For example, the perennial problem with Canary Wharf has been accessibility to Heathrow. Journey times will be cut to 40 minutes and convenience greatly improved for both employment and residential.

"Farringdon will become a key transport connection being only one stop to Kings Cross/ St Pancras International. Given that it is not even on the Central line at the moment, Crossrail will significantly increase its relevance.

"Tottenham Court Road is the strongest performer in our research. This location is undergoing major regeneration made viable by Crossrail, with public realm improvements and new office and residential development. The East end of Oxford Street should re-join the area as a destination retail location. Almacantars plans for Centre Point, if approved, will generate new residential price records in the local market.”

The JLL research suggests that Crossrail will contribute to residential price increases of between 6% and 19% above “already strong house price inflation for new build property along the route.” Jones Lang LaSalle expects price growth of nearly 30% on average for all Central London residential development by 2018.