London has plenty of river crossings, but shockingly only two of these lie east of Tower Bridge. Due to extensive on-going regeneration, East London is already a top choice for property hunters. And with Sadiq Khan giving the go-ahead for new river crossings, East London looks set to get an additional boost in terms of its desirability as a place to live.
Where are East London’s new river crossings?
Set for completion within the next five to 10 years, London’s three confirmed new crossings are as follows:
- Road tunnel at Silvertown
- DLR crossing at Gallions Reach
- Pedestrian and cycle bridge between Canary Wharf and Rotherhithe
But luckily for East London’s residents, workers, and businesses, these are just the first steps in improving river-based transport connections in the area.
The two other projects in consideration by Sadiq Khan are a London Overground crossing running from Abbey Wood to Barking Riverside, and a ferry route between the Isle of Dogs and North Greenwich.
What does this mean for the East London property market?
Well, one of the reasons the Gallions Reach DLR extension was proposed was to support the development of around 17,000 new homes in the Newham and Greenwich areas.
Mayor of London, Sadiq Khan, said: “With new homes and economic growth across East London, it becomes even more important that we deliver new greener transport links that allow Londoners to cross the river quickly and more easily.”
Khan went on to say: “As we continue to unlock the massive economic potential of East London, we must secure the very best transport infrastructure that improves the quality of life for everyone living and working in the area.”
As seen with the Elizabeth Line project, when transport links improve, property prices tend to rise in line with this.
Are you looking to invest in property in East London? Call the Kingsley Hamilton Estates team today on 020 7078 0214 or send an email to email@example.com, and we’ll get right back to you.