Proximity to a tube station means added value to your home. No surprises there. Properties within 500 metres of a Tube station are nine per cent more expensive — typically that’s £27,000 — than an identical property 1,500 metres from the same station. This finding is from the latest research by mortgage lender
Nationwide.
However a few stops along a Tube line adds hundreds of thousands of pounds on property prices. The latest research has calculated the true value of postcode power.
Mayfair estate agent,
Wetherells, commissioned
Dataloft property consultancy to produce the first London Underground property map based on sales and rental values of two-bedroom flats within a quarter-of-a-mile of the Tube stations in Zone 1.
For example, it takes six minutes between Earls Court and Sloane Square and the stops are at Gloucester Road and South Kensington. For each of those six minutes property prices rise by £96,647.
For even sharper increases, travel the three stops from Southwark (via Waterloo and Westminster) to Green Park and prices increase by £152,640 for each of the eight minutes of that journey.
And for a similar trip from Vauxhall to Green Park, seven minutes via Pimlico and Victoria, the price will rise by £229,286 at every stop and £110,000 per minute. The Victoria Line has an average value of £760,861, and on the Northern it is just £613,890.
Related article: The first ever London Underground property map to illustrate the link between property prices and tube stations.
