Page 5 - Demo

5 | Tittle %u00a9 2024 Jones Lang LaSalle IP, Inc. All rights reserved.Regeneration area outperformanceThe Elizabeth line has turned Old Oak & Park Royal into one of the best commuter areas of London, with the key employment hubs and Heathrow airport accessible within 23 minutes. Over half of areas surrounding Elizabeth line stations reported annual rental growth, higher than their respective regions. High demand for rental properties in locations along the Elizabeth line has underpinned strong rental growth experienced over the past year. With the line now fully open and connected, residents can benefit from reduced travel times on the Elizabeth line and congestion on other lines.In our latest buyers and tenant survey, 97% of residents said that the proximity to public transport was either very important or important to them. Historically, North and West London have been better connected than the East, so recent transport improvements in East London have significantly increased the appeal of the area over recent years. In the year to August 2024, 63% of areas surrounding Elizabeth line stations recorded annual rental growth of 5% or more. 29% of stations have recorded annual rental growth of 10% of higher.The recent opening of the Elizabeth line has already had a positive effect to the area:Old Oak & Park Royal has seen house prices in the area increase by 2.9% in the last year and 13% in the last five years, outperforming Greater London where house prices fell by 0.6% and increased by 11.2% in the respective time frame. Old Oak & Park Royal rents marginally outperformed Greater London in the last 5 years, increasing 31.5% vs. 30.3% respectively.Old Oak & Park Royal potential outperformance___________________________________________________________________________________CGI: Old Oak Common urban realm design %u2013 Western Parkland