Ross Lidbetter 

ross.lidbetter@essnmedia.co.uk

PROPERTY prices have been boosted in Upper Norwood by the East London line extension.

As the £1 billion scheme drew nearer to opening in May so interest began to spark in homes in the area.

Polly Ogden, associate director of estate agents Pedder Wates, in Westow Hill, Upper Norwood, believes the new link between Crystal Palace station and the City is big news for local homeowners.

A five-bedroom terraced house in Whiteley Road that was struggling to sell for around £500,000 last year sold for £540,000 in May.

And a four-bedroom detached home with a garage in Pytchley Crescent has also recently sold for £455,000.

Miss Ogden said: "We sold another one on the same road six months before and it went for close to £400,000.

"We are certainly seeing huge amounts of first time buyers coming to the area.

"You can't put everything down to the East London line but it's one of the reasons why people are choosing here. The line is playing a massive part in where people are choosing to invest."

The East London line provides Croydon residents living close to West Croydon, Norwood Junction and Crystal Palace station with a quicker route to the City and Canary Wharf.

Miss Ogden believes property prices could rise still further as word of the extension's opening spreads.

She said: "I don't think there's been enough publicity from TfL (Transport for London). We feel it's a huge plus for the area."

But Elliott Valentine, a mortgage broker at estate agents Townends in South Norwood High Street, believes the East London line has had little impact on South Norwood – because of a lack of publicity.

He said: "It has been a bit of an anti-climax and hasn't had a major effect here.

"It would definitely have an impact if it was on the news that it was coming through Norwood Junction.

"It would immediately create a lot of inquiries."

Patrick Donnelly, from Streets Ahead estate agents, in Lower Addiscombe Road, Addiscombe, says prices have not been affected yet in West Croydon, but believes it is just a matter of time. He said: "Anything that improves transport links is ultimately a good thing and will affect pricing.

"What happens is people get to hear about it, that first wave of people come in and it snowballs.

"It's like the tram coming to Croydon. Before it came some said it wouldn't make any difference. But it's a gold mine and that definitely lifted prices in Addiscombe. The railway will do the same."