East London has traditionally been seen as less fashionable than its smarter cousin to the west.

But, as we highlight in our new research report on the Eastern Corridor from Stratford to Havering, the reality is rather different and is set for even greater change when Crossrail is fully up and running, unlocking shorter journey times into central London.

It’s a swathe of the capital that’s attracting successful, young households into an area that, crucially, is relatively affordable.

To put that into context, the average house price in London has risen by 83 per cent in the last 10 years, vastly outstripping income growth. And while if you were to travel by public transport 15 minutes from main employment hubs to the west you would arrive in South Kensington, where you might buy a house for £1.8 million, a quarter of an hour’s travel from main employment hubs in the east would take you to Stratford (one of east London’s highest value areas) and, like for like, you might pay £562,000.

Of those moving into newly built homes in the Eastern Corridor in recent years, almost 80 per cent already live in London and nearly two thirds are under the age of 40. There’s rental demand from high earning city professionals favouring Hackney, Newham, Tower Hamlets and Waltham Forest, as well as from younger residents at the start of their careers more inclined to look for greater affordability in the three most easterly boroughs. And we are seeing demand from buyers too who are leaving the rented sector in search of small, family houses.

It’s not only price that’s attracting attention. Hackney, Barking and Dagenham and Newham led the way when it comes to the increase in cultural and leisure services in the night-time economy between 2007 and 2017 with all east London boroughs performing better than the London average.  

Despite already significant development and investment in this part of London, we expect to see an increasing appetite for new housing as a fully functioning Crossrail enables residents to make the most of both value and a quicker commute.

Further information

Read more: London Development: Eastern Corridor