Transport links to help new housing hotspots

Halifax Estate Agents has said that areas in London and the south-east will benefit from stronger price growth in 2008 ahead of planned improvements to local travel networks.

The group has pointed to areas in east London, such as Hackney, as prime candidates for price growth next year, set to benefit from the twin catalysts of the 2012 Olympics and the new Crossrail line, due to open in 2017.

Elsewhere, the Medway towns in Kent could also see prices rise on the back of the opening of high-speed rail links to London, set to start running before the end of the decade.

"Some areas will continue to be in high demand next year with property prices rising accordingly despite the expected subdued outlook across the market as a whole," said Halifax Estate Agents managing director Colin Kemp.

"Those areas that are likely to record the biggest price gains will tend to be those with a combination of good transport links to a major conurbation and relatively low average prices. A number of areas will see a boost to prices as a result of significant infrastructure projects," Mr Kemp added.

The average price of a home in the UK is now more than £200,000 in 48 per cent of UK towns, according to separate research released by Halifax last week.

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