Stratford has seen property price growth of 95 per cent since the start of the Crossrail project
(Picture: Handout)Before 2012 it is safe to say that Stratford kept a low profile. But in preparation for the London Olympics, billions were lavished on projects such as Westfield Stratford City and the Olympic Park.
Its former athletes’ village has been converted into apartments, with a range of cafes and restaurants — get your carb on at Signorelli bakery, grab a juice at Ginger & Mint or something stronger at Neighbourhood Bar.
Beyond East Village, Sawmill in West Ham Lane does an amazing breakfast and you can feast on enchiladas at the high street’s MexiCasa.
In the summer, the roof of Stratford Centre’s car park becomes Roof East, with street food, games, music and bars.
The cultural powerhouse is the Theatre Royal Stratford East, which will soon have performances from Ballet Black and a run of pop musical Fantastically Great Women Who Changed the World.
Alex Sergent, founder of video production agency Catch Creative, bought into the Stratford dream in 2014 with a 25 per cent share of a two-bed flat with a full price of £385,000.
As well as affordability, he was sold on Stratford’s potential and believes the price of his flat has almost doubled during his tenure.
Crossrail journey times from Stratford
- To Tottenham Court Road : 24 minutes
- To Paddington: 29 minutes
- To Heathrow: 65 minutes
Timings include extra time for interchanges at Liverpool Street (10 minutes) and Paddington (8 minutes) which will be necessary until May 2023
Sergent likes how Stratford combines green space with ultra-modern facilities. He takes a walk or a run most days, uses the park’s cycle tracks and has tried out the velodrome and aquatics centre. For nights out, he tips Darkhorse with its northern Italian menu and the authentic Santi (both in East Village).
Ian Merchant, of agent Bairstow Eves, says Stratford’s modern flats get snapped up by first-time buyers using Help to Buy, while its period terraces are the territory of second steppers selling flats in more expensive parts of London.
Average house prices in Stratford
From the start of the Crossrail project to today
2012: £240,350
2022: £467,560
Growth: 95 per cent
Source: Hamptons
For renters, a new flat in Stratford isn’t a budget option — asking rents are between £2,000 and £2,500pcm for a two-bedroom property, but drop to about £1,700pcm for an older home.
Terraced houses are good value by comparison, with three-bedroom terraces letting at £1,600 to £1,800pcm.
Over the past two years, sale prices in Stratford have seen modest growth of 4.6 per cent. But Merchant believes they will rise: “It is so well connected and there are all these amenities on your doorstep. I think that when Crossrail opens, people will realise how good it is, and that will push prices on.”
The future of Stratford
Stratford has already seen massive redevelopment and the biggest change on its horizon is the Madison Square Garden Sphere. The music venue will also feature a club, bars and restaurants.
As for new homes, about 11,500 flats and houses have been built at the Olympic Park with another 21,500 to come by 2036. The first new neighbourhood, Chobham Manor, will complete this summer and construction has started on East Wick and Sweetwater.
Work on East Bank, Stratford’s answer to South Bank, is under way with a new outpost of the V&A and a centre for Sadler’s Wells due to open in the next few years.
Near Stratford International, Telford Homes has planning permission for 380 rental flats, with a parade of shops and offices.
