When HS2 was first announced in 2012, homeowners near its proposed stops expected a windfall. However, in Old Oak Common—the West London neighbourhood set to become the capital's main HS2 interchange—house prices have fallen dramatically. According to analysis by Ranking Atlas, median sale values in NW10 and W3 underperformed England's average by 4.8 percentage points between 2012 and late 2023, when phase two of HS2 was scrapped. In the three years since, prices in postcodes bordering the £2 billion hub have plummeted 18.8%, down £97,500 from £517,500 to £420,000.
Disruption Outweighs Promise
Daniel Grainger, founder of Ranking Atlas, told Metro: 'Old Oak Common is the one HS2 station that is actually under construction, yet it's suffered the greatest land value drop in the whole dataset.' He noted that residents were 'promised the uplift a new super-hub is supposed to bring' but instead experienced 'the disruption and the losses.'
Verona Frankish, CEO of Yopa, explained that buyers tend to place a premium on completed improvements rather than future regeneration. 'Old Oak Common is currently in that difficult transition period where many of the drawbacks of redevelopment are being felt long before the full benefits are realised,' she told Metro.
Long-Term Outlook
London's Mayoral Development Corporation plans to transform Old Oak into 'a new urban district' with 31 hectares of brownfield land, 8,000 new homes, and 200,000 sqm of commercial and community space. However, the station is not expected to open until 2035, with full completion by 2050. Frankish said today's buyers are 'purchasing into uncertainty,' tempering demand. Cautious buyers are instead focusing on neighbouring locations like Acton, Harlesden and Kensal Rise, where they can enjoy established communities while still benefiting from future HS2 connectivity.
Frankish argued the longer-term outlook remains positive, and the area should become a more compelling residential proposition once works are further along.
What Locals Say
Residents have mixed views. One Reddit user, butts_mcgee, called it a 'great place to live,' adding: 'Heathrow in 20 mins, central London in 10, nice parks nearby. It's a really exciting area.' However, another, Zouden, described it as 'Hell on Earth,' saying: 'I can't think of anything worse than living in the massive industrial site that is OOC.' Merrycrow, who lives there, argued the redevelopment was welcome: 'Despite the charmingly rustic name it's probably the bleakest place I've ever lived. Any change would be an upgrade.'
Current Amenities and Transport
Old Oak Common currently offers access to Wormwood Scrubs Open Space, Westfield shopping centre in White City, and the Grand Union Canal. Nearby stations include East Acton, Willesden Junction and North Acton, providing quick journeys into central London. The Elizabeth line via Acton Main Line station offers fast connections to Paddington, the West End, Canary Wharf and Heathrow. Once fully operational, the new HS2 station is expected to handle around 250,000 passengers daily.
