Maidenhead, in Berkshire, is a pleasant, leafy sort of place. Early in the morning, ducks sail serenely along the Thames and commuters hurry less serenely to the station for the half-hour of strap-hanging to London Paddington, followed by a sweaty Tube journey. Many of the town’s residents work in the capital - all very well for those based in the West End, but not so great for those obliged to trek all the way east, to the City or Canary Wharf.

Things may soon be looking up for the commuters of Berkshire and beyond, however. Crossrail, the most ambitious British transport project since the Channel Tunnel, is about to be given the green light. Linking Maidenhead, in the west, with Shenfield and Abbey Wood, in the east, the route - which will run through more than 13 miles of new tunnel under central London, stopping at Bond Street and Tottenham Court Road - will transform the journeys of thousands of people and turn some backwaters into property hot spots.

By 2015, when the first trains are due to start running, it will be possible to travel from Maidenhead to Liverpool Street in just 52 minutes (a saving of 20 minutes over the current train/Tube journey) and Brentwood to Bond Street in 45. Heathrow will be just 36 minutes from Liverpool Street.

“It’s great news, and badly needed,” says Dominic Grace, head of new homes at Savills estate agency. “From a property point of view, it’s going to be great for those along the way who have a station nearby.” Ed Mead, a director in the Chelsea office of agents Douglas & Gordon, estimates that Crossrail will add a 10% premium to houses “within striking distance” of stations on either side of the capital.

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Traditional commuter areas such as Maidenhead, Taplow and Burnham will be obvious beneficiaries, according to Jim Ward, research director at Savills. “If you look west, it’s surprising how long it takes to get in from some of these places,” he says.

The effect will also be felt further towards the centre, in areas such as West Ealing, Hayes and Southall, where large-scale regeneration is already under way, areas that will be served by up to 10 trains an hour. At the moment, prices in Southall are relatively reasonable: a four-bedroom house will set you back about £330,000, while in West Ealing, a terraced house costs nearer £400,000. Prices in Hayes fall between the two: according to the property portal Findaproperty.com, four bed houses there cost an average of £342,323.

Hari Sothinathan, a senior research analyst at Knight Frank estate agency, says the benefits will be also be felt southeast of the capital. “The main impact will be where there is no connection at present,” he says, citing the last stretch of track from Woolwich to Abbey Wood, which will link the Thames Gateway with the rest of London. Property prices there are among the lowest in the capital: a fourbed house in Abbey Wood costs a modest £235,000.

Ian Rathbone, of Crossrail, says that Whitechapel Tube station will also become an important transport hub. The property market in the area has already seen a boost in prices thanks to the Olympic effect. According to Regent Property Services, a local estate agency, the average cost of a two-bed flat in E1 has jumped to £275,000, from about £220,000 just 18 months ago. And there are more upmarket projects: a one-bedroom flat in a former sugar factory, launched earlier this year by Berkeley Homes, costs £385,000.

Crossrail is not the only significant transport project in the offing. By the time it is completed, trains should already be running - at the same frequency as Tubes - on the East London line extension from Whitechapel down to West Croydon and up as far as Highbury & Islington. The first phase of the service is due to start in 2010, in good time for the London Olympics two years later.

The Docklands Light Railway (DLR), meanwhile, will have been extended to Woolwich Arsenal and Stratford International. Other big transport schemes are also being considered, including a further DLR extension out to Dagenham Dock and a cross-river tram from Camden, in the northwest, to Peckham, in the southeast.

Crossrail has not been universally welcomed. Some critics argue that the £16 billion needed for the project would be better spent on upgrading the existing Tube network, while some local councillors in east London are unhappy about the disruption building work might cause. There has also been concern among the owners of some of the grander properties near Hyde Park and elsewhere in west London - under which the new tunnel will pass on its way from Paddington and Bond Street - about the impact of the tunnelling on the foundations of their homes.

There appears to be little danger, however, that the zen-like calm of their basement extensions will be interrupted by the rumble of a passing Crossrail train. “Burrowing technologies have improved so much these days, so sound and vibration shouldn’t be a problem,” Mead says. “The technology, and the depth at which tunnels are being dug, will mean little hassle for homeowners.” Crossrail; 0845 602 3813, www.crossrail.co.uk

Making tracks

East London line: The line, which links Shoreditch with New Cross and New Cross Gate, will be extended to run from West Croydon, in the south, to Dalston, in the north, by 2010, then on to Highbury & Islington by 2011.

Docklands Light Railway: The City-airport branch, which is being extended to Woolwich Arsenal, is due to open in 2009. The DLR will also run on from Canning Town, via West Ham, to Stratford, connecting with the new Channel Tunnel link, and possibly from Galleons Reach to Dagenham Dock.

Cross River Tram: There are plans for a new service from Camden Town and King’s Cross, in the north, to Brixton and Peckham, in the south.

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