When it comes to train fares in London, travelling one extra stop can make a surprising difference. But what does the London Tube map mean for house prices?
Online estate agent eMoov has analysed the data for house prices across the 280 stops on the London Underground network, finding that the difference a station can make is similarly striking for house-hunters. Indeed, the average house price in Finchley Road exceeds £1.4 million, but taking the tube just eight minutes down the line to Wembley Park, can save UK buyers £1 million on their property price.
On the Northern Line, moving one stop from Hampstead (£1.4m) in Zone 2 to Golders Green in Zone 3, where the average house price is £962,000, can save you nearly half a million on the price of your property.
Further south, moving one stop and one zone from Turnham Green out to Acton Town will also save you £400,000 on the price of a London property. The average house in Turnham Green, Zone 2, will cost you just shy of a million. However, four minutes down the District or Piccadilly line and the average house price in Acton Town only just tops £500,000.
But for those looking to really maximise their property potential on the London Underground, the most affordable property prices across the whole network are found in Zones 4 and 5. In fact, the cheapest all lie within a nine-minute tube journey of each other in the London Borough of Barking and Dagenham. Barking, Dagenham East and Becontree all offer an average house price ranging from £237,000 to £240,000.
With an average house price of £1.2m, no tube stop in Zone 1 offers a property for less than £500,000. However, there are five stations where the average house price hasn’t yet hit the £700,000 mark. At £536,000, Aldgate East offers the cheapest property prices across Zone 1. Aldgate East is joined by Lambeth North (£660k), Borough (£665k), Waterloo (£670k) and Vauxhall (£690k).
Founder and CEO of eMoov.co.uk, Russell Quirk, comments: “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.”
Click on the map above for a full-sized map.Google+