London property close to Tube 'subject to £27k premium'
People purchasing residential property in London are willing to pay a significant premium for houses close to public transport links, new research has revealed.
According to a study published by Nationwide today (April 19th), homes located 500 metres from the nearest Tube or train station command an average price of £27,000 more than similar abodes positioned 1,500 metres away.
There are also differences in costs depending on which Underground service properties are near, with those close to the Circle line being most expensive and homes situated on the Metropolitan line proving cheapest.
Indeed, areas such as Westminster, Camden and Tower Hamlets - where more than 75 per cent of properties are within 500 metres from a station - were found to be among the priciest regions in London.
Earlier this week (April 16th), Rightmove revealed that homes in Southwark saw the biggest increase in price of any borough in the capital last month.
Posted by Martyn Glynn
Published 19th April, 2012
© 2012 Estates IT Limited
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Homes near tube and train stops in London are worth around nine per cent more than houses without such connections.