The project is set to have a big impact on house prices along its route from Maidenhead in Berkshire to Shenfield in Essex and wise investors are already spotting the potential rises over the next four years.
However, there is no reason why first-time buyers shouldn’t grab a small piece of the action.
New suburb with great links
The former Olympic Village is in the process of being transformed into a whole new suburb of London, complete with a Westfield shopping centre, a new Royal Park, and thousands of homes. The area already has amazing transport links and in 2018 will join the Crossrail line, too. Triathlon Homes has 348 shared-ownership homes for sale in the area. A 25 per cent share of a one-bedroom flat starts at £67,500. Shares of two-bedroom flats start at £87,000, and of three-bedroom flats, from £108,750.
From £67,500: for a quarter share of a one-bedroom Triathlon Homes flat in Stratford, joining the east-west line in 2018
Great for urbanites
A rare chance to buy a shared-ownership home in central London comes courtesy of Notting Hill Housing which has 13 one-, two- and three-bedroom flats at a development in Old Castle Street. Prices start at £145,625 for a 25 per cent share of a two-bedroom home.
The location is amazing for urbanites - you can walk to Shoreditch, Brick Lane and Spitalfields Market. Whitechapel Gallery and Altab Ali Park are moments away, and while Aldgate is the nearest Tube station (a two- to three-minute walk), Whitechapel is just over half a mile away, providing a valuable alternative commuting option via Crossrail.
From £145,625: for a quarter share of a two-bedroom flat in Old Castle Street, Whitechapel. A Crossrail link will be half a mile away
Buy a flat in a funky block
L&Q has 11 homes available at the L&Q @ Woolwich Central development, priced from £51,250 for a 25 per cent share of a one-bedroom flat, and £92,750 for a 35 per cent share of a two-bedroom home. Another 40 shared-ownership homes will be sold in later phases of this scheme.
The flats are in funky, modern blocks, with huge windows, and there is a communal roof terrace for residents. The nearest station is Woolwich Arsenal, just a couple of minutes’ walk away, but it is also less than half a mile from the new Woolwich station close to the Royal Arsenal - which means direct trains to the City, West End and Heathrow are within an easy walk.
From £51,250: for a 25 per cent share of a one-bedroom flat, and £92,750 for a 35 per cent share of a two-bedroom home at the L&Q @ Woolwich Central development
Hot property, selling fast
A newly launched development of 10 shared-ownership homes by Gateway Living is selling fast - just a single property remains on the market with Felicity J Lord. The three-bedroom flat is priced at £86,250 for a 25 per cent share. The location, in Pier Street, means the Thames is on one side and Mudchute Park and city farm is on the other. Mudchute DLR is the closest station but Canary Wharf is within walking distance, just over a mile away, which means residents will have a Crossrail stop virtually on the doorstep.
£86,250 for a 25 per cent share: of a three-bedroom flat in Pier Street, Canary Wharf
Homes by the water
Notting Hill Housing has two flats left at The Boatyard, a waterside development, from £80,000 for a 40 per cent share of a one-bedroom flat. The scheme is 1.6 miles from Southall station, in private grounds beside the Grand Union Canal. The National Trust’s Osterley House is near, and every flat has a balcony, terrace, or a private garden.
£80,000 for a 40 per cent share of a one-bedroom flat at The Boatyard in Southall