Close proximity to London’s transport links adds £40,000 premium for sellers
- 18th June 2019
- Selling Property News
Buyers in London willing to pay £43,000 more for homes close to a Tube or railway station
Having a home within a 5-minute walk of a tube or railway station adds an impressive £43,000 to its value on average, according to new research.
Buyers in London place far more weight on the proximity to excellent transport links such as tube stations and cycle superhighways compared with buyers in other major UK cities, which is great news for sellers.
The best connected boroughs in London include Camden and Tower Hamlets where 75% of properties are within 500 metres (1,640ft) of a station.
London transport links have continued to develop in recent years. For example, earlier this year, the Jubilee line celebrated its 40th anniversary of connecting young professionals living in areas such as Canada Water and Kilburn with the city.
Improvements to London’s ‘always on’ transport initiatives, such as the night tube, have further boosted demand for property close to transport links. The night service calling at Whitechapel is the latest section of the line to offer the night tube. Transport for London are also considering operating a 24-hour services on the DLR, when the current operating contract ends in 2021.
When the Elizabeth Line, opens later this year, previously overlooked areas in Outer London such as Woolwich and Acton, could become much more appealing to buyers.
When considering selling your property, it’s important to use an agent with detailed knowledge of your area - including close transport links - and of those buyers who could be in the market.
Stephen Ludlow, Chairman of ludlowthompson says: “London is well renowned for having excellent transport links which appeal to buyers.”
“As London’s transport system continues to develop and expand, the outer zones may become particularly sought after as investment and regeneration pour in.”
If you are considering selling your property start by getting an instant valuation now using our FREE online tool. Alternatively if you are thinking of buying and are interested to know more about the latest ‘hot spots’ speak to one of our experts by finding your nearest office.
ludlowthompson maintains its transparency by encouraging customer reviews across a number of platforms. Over a three-year period, we ranked number 1 agent in the UK on allAgents out of 15,000+ agents, with 5300+ 5* reviews. Here is a selection of recent reviews of happy customers of ludlowthompson via Google Reviews:
Daniela and her team were a pleasure to collaborate with. They communicated smoothly and were always very professional during our interactions. I highly recommend working with them!
I used ludlowthompson to buy and sell my flat and was very pleased with them on both occasions. Very helpful and easy to deal with.
“London is well renowned for having excellent transport links which appeal to buyers.”
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