Flats to rent in London 'could be right choice for living near train station'
flats to rent in London could become an in-demand asset, after one industry expert suggested those looking to purchase a house near a train station are being faced with a significant premium to secure a place.
Martin Gahbauer, chief economist at building society Nationwide, was commenting on the company's latest figures that revealed potential buyers in the capital are paying an extra £20,000 for abodes within 500 metres of an underground or mainline rail stop, compared with identical pads around 1,500 metres away.
The largest variations in house prices are in areas with Circle Line stops, which can connect commuters to areas such as the City of London and King's Cross, with properties costing around £500,000, a number that might have more people looking for flats to rent in London.
This may be particularly important given that 34 per cent of people living in the city use National Rail or London Underground services and Mr Gahbauer noted that with this higher proportion of individuals using public transport, it should be expected that househunters would want to live close to a station.
By Ben Carter
Published 19th July, 2010
© 2010 Estates IT Limited
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