House prices: how much does it cost to live near your Tube stop?

26/02/2016
 

Despite frustration at delays and despair at the prospect of strikes, the Tube remains a vital part of every Londoner's life.

And it is crucial when buying a house, too. Accordingly, eMoov has revealed the average property price at every one of the 280 Tube stops on the network (excluding the DLR and the Overground).

Just one stop can make a huge difference in property prices: it is just an eight minute Tube ride between Wembley Park and Finchley Road on the Metropolitan line. But the average house price differs by £1m. At Finchley Road, house prices average £1.4m, and at Wembley Park they are £400,000.

Not a single Tube station in Zone One has an average property price less than £500,000 - but there are still bargains to be found.

The cheapest in Zone One:
- Aldgate East: £535,92

- Lambeth North: £660,167
- Borough: £664,838

- Waterloo £669,743

- Vauxhall: £689,556

Russell Quirk, the founder and chief executive of eMoov, said: “The tube map is a fascinating way of breaking down the London landscape, especially where property price is concerned.

"Despite the constant threat of strike action, a property close to a tube stop, on a good line, remains one of the most sought after pieces of property in the capital. Close proximity to a tube stop will always act as an additional selling point for sellers and in most cases, is justification for a higher asking price.

"It’s well worth doing your homework when buying in London, because as this research shows, sacrificing a few extra minutes with a longer commute can result in a considerable reduction in the price you will pay for a property.

The cheapest in Zone Two:

- West Ham: £313,054

- Canning Town £323,601

- Bromley-by-Bow: £329,778

- Stratford: £339,600

- North Acton: £384,626

Average for Zone Two: £795,981

The cheapest in Zone Three:

- East Ham £274,206

- Upton Park £283,134

- Plaistow £284,692

- Leyton £364,067

- Park Royal £371,114

Average in Zone Three: £594,673

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