Southall has followed an urban evolutionary path for the last 200 years, and is set to take another upward bound from 2019 when Crossrail will make the town one of the best connected in London.
Journey times to Heathrow will be slashed to just 10 minutes from 25 minutes, with travel to Tottenham Court Road and Canary Wharf taking just 17 minutes and 31 minutes respectively.
Today, Southall is a multicultural centre with nearly a third of its residents aged between 16 and 74 having attained education to degree level (Census 2001). 18% of its residents benefit from social housing, and 12.5% rent privately. The towns commercial growth is found in the mid 1800’s and looks into a variety of industries which include food producers, chemical plants, ceramic manufacturers and even brick factories.
When examining property prices, it can be seen that price growth around Southall Station has underperformed other Crossrail local authority home prices by around 30% between 2008 and 2014. However, this can be explained by the high density of industrial units in the 15-minute walk sphere of the station: according to a Knight Frank tenant survey, 91% of London tenants want to live within 1km of a transport link. And that is exactly where all the new large-scale development is taking place in Southall.
Population growth in Southall is expected to be strong through to 2030 and beyond. In total, the Ealing district is expected to grown from approximately 340,000 today to around 385,000 by 2030. With its new Crossrail station and potential for a total of 6,000 new homes (3,750 on the Gas Works site), much of the population growth will centre on Southall, where at least 3,000 new jobs are expected to be created over the next 20 years.
With a Crossrail station on its way, and large-scale redevelopment of the Southall Gas Works (close to the station) underway, the potential for Southall property to attract a new round of private rental tenants and young professionals who commute to work in the city is clear. Southall property is set to make up its price lag behind other similar locations very quickly, as the dynamics of life in the town change. Further, the town’s multicultural identity makes it an ideal location for both domestic and international property investors.
When it comes to property investment, ensuring the fundamentals are in place for sustained and sustainable growth should be the property investor’s number one concern. Southall property ticks all the boxes.
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