By Tony Booth

After 17 years of uncertainty, the government finally confirmed earlier this month that funding is in now place for the £16 billion west of London to Essex Crossrail train link, which is certain to provide a whole series of new opportunities for property investment along the route in the coming years.

The project will enhance property prices, create new development areas and bring the neglected residential region of east London back to life.

Announcing the project, the Transport Secretary Ruth Kelly said that a lot of work had gone into securing a Crossrail funding deal, which had eluded previous governments ever since 1990, when it was first given the go-ahead by the then Conservative government. The Prime Minister, Gordon Brown, commented that the scheme - which will run from Maidenhead, west of London, as far east as Shenfield in Essex - would generate 30,000 jobs and help to maintain London's position as the world's pre-eminent financial centre.

Speaking on BBC Radio 4 the Chief Executive of London First, Baroness Valentine, said: 'It's just great news for London, it's great news for business in London and, in particular, the poor commuter. We are delighted. Getting the go-ahead for Crossrail has been like piecing together a giant jigsaw, but with real UK jobs and GDP growth at stake. At the turn of the millennium, the jigsaw appeared to have been knocked off the table, with some pieces missing altogether. Now the Government has responded to our call and assembled a renewed funding package, with London's business leaders digging deep into corporate pockets to find the elusive elements.'